(A) RECONCILIATION OF OPERATING PROFIT TO NET CASH INFLOW FROM OPERATING ACTIVITIES
1998 1997
HK$000 HK$000
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Operating profit 678,681 554,610
Amortisation and depreciation 452,259 349,709
Interest income (51,426) (27,311)
Interest expense 147,612 69,506
Decrease/(increase) in spare parts and stores 27,230 (9,569)
Increase in accounts receivable (22,390) (12,437)
Increase in deposits and prepayments (5,458) (4,124)
(Decrease)/increase in accounts payable (54,320) 23,914
Increase in amount due from
jointly controlled entity (266) (177)
Increase in amount due to associated company 2,912 2,076
Profit on disposal of fixed assets (1,471) (4,213)
Profit on disposal of associated company - (71)
Provision for staff retirement fund 215,000 138,000
Increase/(decrease) in contingency provision
- insurance 26,279 (15,679)
(Decrease)/increase in insurance
claims payable (4,069) 40,592
Effect of foreign exchange rates (6) 52
--------- ---------
Net cash inflow from operating activities 1,410,567 1,104,878
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(B) ANALYSIS OF CHANGES IN FINANCING DURING THE YEAR
Bank loans
HK$000
========================================================================
Balance at 1 January 1998 1,375,714
Cash inflow from financing 747,852
---------
Balance at 31 December 1998 2,123,566
=========
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(C) ANALYSIS OF THE BALANCES OF CASH AND CASH EQUIVALENTS
1998 1997
HK$000 HK$000
========================================================================
Cash at bank and in hand (note) 1,256,310 533,048
Bank loans and overdrafts repayable within
three months (9,674) (4,622)
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1,246,636 528,426
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Note: Included in cash at bank and in hand in the balance sheet is an amount of HK$30 million (1997: HK$30 million) deposited with an investment manager for investment purposes which will be converted into cash upon maturity on 20 May 1999.
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