Annual Report 2021

113 Consolidated Cash Flow Statement Miramar Hotel and Investment Company, Limited Annual Report 2021 Consolidated cash flow statement for the year ended 31 December 2021 2021 2020 Note HK$’000 HK$’000 Operating activities Profit before taxation 422,759 408,305 Adjustments for: Dividend income from listed securities 3(e) (3,794) (3,632) Bank interest income 3(e) (20,278) (76,192) Net gain on disposal of properties (18,696) – Net (gain)/loss on disposal of other property, plant and equipment 3(e) (12) 909 Loss allowance for trade receivables 3(e) 34 785 Reversal of provision for properties held for resale 3(e) (86) (420) Depreciation 10(a) 66,511 89,806 Finance costs 3(b) 2,235 3,320 Share of profits less losses of associates 12 (180) (202) Net realised and unrealised losses on financial assets measured at FVPL 3(c) (3,413) (1,055) Net decrease in fair value of investment properties 10(a) 112,143 152,016 Impairment loss on other property, plant and equipment 3(d) 31,603 34,237 Exchange differences (6,871) 5,887 Operating profit before changes in working capital 581,955 613,764 (Increase)/decrease in inventories (1,508) 1,927 Decrease in trade and other receivables 7,527 48,981 Decrease in amounts due from associates 69 2 Decrease in amounts due to associates (11) (7) Increase/(decrease) in trade and other payables 2,616 (99,150) Increase/(decrease) in rental deposits received 22,577 (12,925) Decrease in contract liabilities (17,130) (106,622) (Decrease)/increase in deferred liabilities (25,394) 3,496 Net proceeds/(payments) for purchase and disposal of other financial assets held for trading purposes 20,109 (74) Cash generated from operations carried forward 590,810 449,392