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Consolidated Statement of Cash Flows
For the year ended 31st March 2018

Consolidated Statement of Cash Flows

For the year ended 31st March 2018

2018 2017
Note HK$’000 HK$’000

Cash flows from operating activities
Cash used in operations 28(a) (212,773) (118,258)
Interest received 8,045 9,875
Interest paid (9,253) (10,268)
Income tax paid (1,687) (17,550)
Net cash used in operating activities (215,668) (136,201)

Cash flows from investing activities
Purchase of property, plant and equipment (180,277) (48,316)
Proceeds from disposal of plant and equipment 28(b) 570 1,028
Payments for intangible assets (35,840) (4,926)

Net cash used in investing activities (215,547) (52,214)
Cash flows from financing activities
Proceeds from trust receipt loans 530,621 643,491
Repayments of trust receipt loans (530,621) (643,491)
Proceeds from borrowings 75,993 –
Repayments of borrowings (117,450) (58,200)
Repurchase of shares (1,473) –
Dividends paid to the Company’s shareholders (46,326) (550,400)
Net cash used in financing activities (89,256) (608,600)

Net decrease in cash and cash equivalents (520,471) (797,015)
Cash and cash equivalents at beginning of the year 787,201 1,591,643
Effect of foreign exchange rate change 12,790 (7,427)

Cash and cash equivalents at end of the year 22 279,520 787,201

The notes on pages 58 to 118 are an integral part of these consolidated financial statements.

ALCO HOLDINGS LIMITED ANNUAL REPORT 2018 57