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Notes to the Consolidated Financial Statements

31st March 2018

28 NOTES TO CONSOLIDATION STATEMENT OF CASH FLOWS (CONTINUED)

(c) Net debt reconciliation

This section sets out an analysis of net cash and the movements in net cash for each of the years
presented.

2018 2017
Net cash HK$’000 HK$’000

Cash and cash equivalents 279,520 787,201
Borrowings – repayable within one year (91,615) (116,400)
Borrowings – repayable after one year (42,103) (58,200)

Net cash 145,802 612,601

Cash and cash equivalents 279,520 787,201
Gross debt – variable interest rates (133,718) (174,600)

Net cash 145,802 612,601

Liabilities from
Net cash financing activities
Borrowings Borrowings
Cash repayable repayable
and cash within after
equivalents one year one year Total
HK$’000 HK$’000 HK$’000 HK$’000

At 1st April 2016 1,591,643 (9,700) (223,100) 1,358,843
Cash flows (797,015) (106,700) 164,900 (738,815)
Foreign exchange adjustments (7,427) – – (7,427)

At 31st March 2017 787,201 (116,400) (58,200) 612,601

At 1st April 2017 787,201 (116,400) (58,200) 612,601
Cash flows (520,471) 26,360 15,097 (479,014)
Foreign exchange adjustments 12,790 (1,575) 1,000 12,215

At 31st March 2018 279,520 (91,615) (42,103) 145,802

114 ALCO HOLDINGS LIMITED ANNUAL REPORT 2018