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Consolidated Statement of Cash Flows
For the year ended 31st March 2017

Consolidated Statement of Cash Flows

For the year ended 31st March 2017

2017 2016
Note HK$’000 HK$’000

Cash flows from operating activities
Cash (used in)/generated from operations 28(a) (118,258) 152,021
Interest received 9,875 13,276
Interest paid (10,268) (8,695)
Income tax paid (17,550) (13,273)
Net cash (used in)/generated from operating activities (136,201) 143,329

Cash flows from investing activities
Purchase of property, plant and equipment (48,316) (70,133)
Proceeds from disposal of properties 28(b) – 533,769
Proceeds from disposal of plant and equipment 28(b) 1,028 11,065
Payments for intangible assets (4,926) –

Net cash (used in)/generated from investing activities (52,214) 474,701
Cash flows from financing activities
Proceeds from trust receipt loans 643,491 727,155
Repayments of trust receipt loans (643,491) (728,809)
Proceeds from borrowings – 535,600
Repayments of borrowings (58,200) (352,800)
Dividends paid to the Company’s shareholders (550,400) (92,699)
Net cash (used in)/generated from financing activities (608,600) 88,447

Net (decrease)/increase in cash and cash equivalents (797,015) 706,477
Cash and cash equivalents at beginning of the year 1,591,643 888,335
Effect of foreign exchange rate change (7,427) (3,169)

Cash and cash equivalents at end of the year 22 787,201 1,591,643

The notes on pages 50 to 104 are an integral part of these consolidated financial statements.

ALCO HOLDINGS LIMITED ANNUAL REPORT 2017 49