46
Consolidated Cash Flow Statement
VITROX CORPORATION BERHAD
[649966-K]
For The Financial Year Ended 31 December 2008
2008
2007
Note
RM
RM
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax
8,599,111
14,867,219
Adjustments for:-
Allowance for doubtful debts
745,827
0
Allowance for slow moving inventories
273,666
516,568
Amortisation and depreciation
1,219,371
1,076,928
Gain on disposal of property, plant and equipment
0
(156,356)
Interest expense
0
2,457
Interest income
(596,973)
(301,302)
Property, plant and equipment written-off
0
4,215
Unrealised loss on foreign exchange
39,474
98,202
Operating profit before working capital changes
10,280,476
16,107,931
Decrease/(Increase) in inventories
563,007
(1,194,601)
Decrease/(Increase) in trade and other receivables
6,479,232
(2,348,489)
(Decrease)/Increase in trade and other payables
(2,629,430)
1,938,235
Cash generated from operations
14,693,285
14,503,076
Tax paid
(404,405)
(470,429)
Tax refunded
125,166
0
Net cash from operating activities
14,414,046
14,032,647
CASH FLOWS FROM INVESTING ACTIVITIES
Increase in capitalised development expenditure
(1,008,804)
(548,745)
Interest received
591,659
264,879
Proceeds from disposal of property, plant and equipment
0
351,000
Purchase of property, plant and equipment
(626,693)
(689,231)
Net cash used in investing activities
(1,043,838)
(622,097)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid
(3,875,000)
(2,325,000)
Interest paid
0
(2,457)
Repayment of hire purchase obligations
0
(261,605)
Repayment of term loans
0
(23,763)
Net cash used in financing activities
(3,875,000)
(2,612,825)
Effect of exchange rate changes
(104,921)
(4,876)
Net increase in cash and cash equivalents
9,390,287
10,792,849
Cash and cash equivalents brought forward
19,392,986
8,600,137
Cash and cash equivalents carried forward
11
28,783,273
19,392,986
The annexed notes form an integral part of these financial statements.
