Annual Report 2019

107 Miramar Hotel and Investment Company, Limited Annual Report 2019 Consolidated Cash Flow Statement Consolidated cash flow statement for the year ended 31 December 2019 2019 2018 Note HK$’000 HK$’000 Operating activities Profit before taxation 1,480,877 1,818,133 Adjustments for: Interest income from financial assets carried at amortised cost 3(d) – (46) Dividend income from listed securities 3(d) (3,523) (3,351) Bank interest income 3(d) (119,125) (94,913) Net loss on disposal of other property, plant and equipment 3(d) 315 4,512 Net gain on liquidation of a subsidiary 3(c) – (16,589) Loss allowance for trade receivables 3(d) 1,227 5,382 Reversal of provision for properties held for resale 3(d) (309) (85) Depreciation 10(a) 132,601 99,142 Finance costs 3(b) 3,944 1,108 Share of profits less losses of associates 12 (129) (4,197) Net realised and unrealised (gains)/losses on financial assets measured at FVPL 3(c) (2,423) 3,108 Net increase in fair value of investment properties 10(a) (503,945) (783,475) Net gain on liquidation of an associate (3,812) – Exchange differences (3,271) 11,290 Operating profit before changes in working capital 982,427 1,040,019 Decrease in inventories 638 1,760 Decrease in trade and other receivables 49,238 12,867 (Increase)/decrease in amounts due from associates (51) 798 Decrease in amounts due to associates (11) (13) Decrease in trade and other payables (67,922) (5,970) (Decrease)/increase in rental deposits received (7,805) 36,112 Increase in contract liabilities 17,429 16,836 Increase/(decrease) in deferred liabilities 4,999 (20,551) Net proceeds/(payment) for purchase and disposal of other financial assets held for trading purposes 15,012 (14,021) Cash generated from operations carried forward 993,954 1,067,837