Consolidated Profit And Loss Account Page 6
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48CONSOLIDATED CASH FLOW STATEMENT
For the year ended 31 March 2005
NOTE TO CONSOLIDATED CASH FLOW STATEMENT
Reconciliation of profit before taxation to cash generated from operations
2005
2004
HK$ Million
HK$ Million
Profit before taxation
5,699.6
3,373.7
Adjustments for:
Share of profits less losses of associates
(2,167.9)
(2,047.3)
Interest income
(74.6)
(118.9)
Interest expense
63.2
116.7
Dividend income from listed investments
(40.3)
(32.6)
Depreciation
1.9
3.0
Write back of provision for properties
(2,237.9)
(40.0)
Impairment of non-trading securities
–
41.4
Profit on disposal of an associate
(9.5)
–
Net profit on disposal of non-trading securities
(89.3)
(19.8)
Deferred profit realised
(111.2)
–
Amortisation of negative goodwill
(8.6)
(45.5)
Loss/(profit) on disposal of fixed assets
0.8
(1.4)
Exchange differences
55.1
51.2
Operating profit before working capital changes
1,081.3
1,280.5
Increase in properties under development for sale
(2,999.3)
(1,898.0)
Decrease in properties held for sale
1,453.0
5,269.4
Decrease in short-term investments
79.8
22.2
Decrease in trade and other receivables
31.9
1,263.8
Increase/(decrease) in deposits from sale of properties
2,046.2
(1,418.0)
Decrease in trade and other payables
(163.3)
(103.8)
Cash generated from operations
1,529.6
4,416.1
38
Wheelock and Company Limited Annual Report 2004/05
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