Annual Report 2020

110 Consolidated Cash Flow Statement Annual Report 2020 Miramar Hotel and Investment Company, Limited Consolidated cash flow statement for the year ended 31 December 2020 2020 2019 Note HK$’000 HK$’000 Operating activities Profit before taxation 408,305 1,480,877 Adjustments for: Dividend income from listed securities 3(e) (3,632) (3,523) Bank interest income 3(e) (76,192) (119,125) Net loss on disposal of other property, plant and equipment 3(e) 909 315 Loss allowance for trade receivables 3(e) 785 1,227 Reversal of provision for properties held for resale 3(e) (420) (309) Depreciation 10(a) 89,806 132,601 Finance costs 3(b) 3,320 3,944 Share of profits less losses of associates 12 (202) (129) Net realised and unrealised gains on financial assets measured at FVPL 3(c) (1,055) (2,423) Net decrease/(increase) in fair value of investment properties 10(a) 152,016 (503,945) Impairment loss on other property, plant and equipment 3(d) 34,237 — Net gain on liquidation of an associate — (3,812) Exchange differences 5,887 (3,271) Operating profit before changes in working capital 613,764 982,427 Decrease in inventories 1,927 638 Decrease in trade and other receivables 48,981 49,238 Decrease/(increase) in amounts due from associates 2 (51) Decrease in amounts due to associates (7) (11) Decrease in trade and other payables (99,150) (67,922) Decrease in rental deposits received (12,925) (7,805) (Decrease)/increase in contract liabilities (106,622) 17,429 Increase in deferred liabilities 3,496 4,999 Net (payments)/proceeds for purchase and disposal of other financial assets held for trading purposes (74) 15,012 Cash generated from operations carried forward 449,392 993,954