SKY CITY ENTERTAINMENT GROUP LIMITED
STATEMENTS OF CASH FLOWS
for the year ended 30 June 2002
| |
Consolidated
|
Parent Company
|
| |
|
2002
|
2001
|
2002
|
2001
|
| |
Note |
$’000
|
$’000
|
$’000
|
$’000
|
|
|
| Cash Flows Related To Operating Activities |
|
|
|
|
|
| Cash was provided from: |
|
|
|
|
|
| Receipts from customers |
|
514,913
|
443,026
|
76
|
27
|
| Interest received |
|
2,169
|
3,285
|
36
|
2,080
|
| Dividends received |
|
–
|
1
|
–
|
–
|
| |
|
517,082
|
446,312
|
112
|
2,107
|
| Cash was applied to: |
|
|
|
|
|
| Payments to suppliers and employees |
|
267,702
|
217,986
|
15,708
|
12,951
|
| Interest paid |
|
45,575
|
40,793
|
14,140
|
12,049
|
| Gaming taxes paid |
|
32,202
|
30,244
|
–
|
–
|
| Income taxes paid |
|
48,124
|
33,006
|
44,639
|
34,530
|
| Net GST paid/(received) |
|
747
|
(1,964)
|
(40)
|
(70)
|
| |
|
394,350
|
320,065
|
74,447
|
59,460
|
| Net Cash Flows from Operating Activities |
21 |
122,732
|
126,247
|
(74,335)
|
(57,353)
|
| |
|
|
|
|
|
| Cash Flows Related To Investing Activities |
|
|
|
|
|
| Cash was provided from: |
|
|
|
|
|
| Sale of fixed assets |
|
3,384
|
554
|
–
|
–
|
| Sale of investments |
|
21,878
|
–
|
–
|
–
|
| |
|
25,262
|
554
|
–
|
–
|
| Cash was applied to: |
|
|
|
|
|
| Funding facility and capital notes costs deferred |
|
–
|
2,166
|
–
|
1,245
|
| Purchase and construction of fixed assets |
|
51,199
|
52,172
|
–
|
27
|
| Purchase of subsidiaries |
|
563
|
19,667
|
4,202
|
–
|
| Purchase of investments |
|
8,853
|
17,099
|
–
|
–
|
| Payment for other intangibles |
|
–
|
287
|
–
|
–
|
| |
|
60,615
|
91,391
|
4,202
|
1,272
|
| Net Cash Flows from Investing Activities |
|
(35,353)
|
(90,837)
|
(4,202)
|
(1,272)
|
| |
|
|
|
|
|
| Cash Flows Related To Financing Activities |
|
|
|
|
|
| Cash was provided from: |
|
|
|
|
|
| Proceeds of long-term debt |
|
61,200
|
860
|
–
|
–
|
| Exercise of share options |
|
9,463
|
6,402
|
9,463
|
6,402
|
| Advances from subsidiaries |
|
–
|
–
|
155,979
|
93,890
|
| Proceeds of capital notes |
|
–
|
90,858
|
–
|
90,858
|
| Advances from minority interests |
|
7,203
|
3,338
|
–
|
–
|
| Issue of shares in Queenstown Casinos Limited |
|
880
|
–
|
–
|
–
|
| Issue of mandatory convertible notes by Force Corporation Limited |
|
7,196
|
–
|
–
|
–
|
| Gains on foreign currency swaps hedging foreign operations |
|
2,251
|
2,726
|
–
|
2,726
|
| |
|
88,193
|
104,184
|
165,442
|
193,876
|
| Cash was applied to: |
|
|
|
|
|
| Repayment of short-term debt |
|
88,969
|
–
|
–
|
–
|
| Repayment of long-term debt |
|
21,095
|
94,990
|
–
|
–
|
| Distributions to shareholders |
|
43,923
|
34,894
|
43,923
|
34,894
|
| Advances to subsidiaries and associates |
|
14,103
|
6,276
|
42,982
|
109,723
|
| |
|
168,090
|
136,160
|
86,905
|
144,617
|
| Net Cash Flows from Financing Activities |
|
(79,897)
|
(31,976)
|
78,537
|
49,259
|
| NET INCREASE/(DECREASE) IN CASH HELD |
|
7,482
|
3,434
|
–
|
(9,366)
|
| |
|
|
|
|
|
| RECONCILIATION OF CASH |
|
|
|
|
|
| Opening cash and bank |
|
41,603
|
37,794
|
1
|
9,367
|
| Net increase/(decrease) in cash held |
|
7,482
|
3,434
|
–
|
(9,366)
|
| Foreign currency translation adjustment |
|
(1,001)
|
375
|
–
|
–
|
| CLOSING CASH |
|
48,084
|
41,603
|
1
|
1
|
| |
|
|
|
|
|
| COMPOSITION OF CASH |
|
|
|
|
|
| Cash and bank |
|
48,456
|
42,684
|
1
|
1
|
| Bank overdraft |
|
(372)
|
(1,081)
|
–
|
–
|
| |
|
48,084
|
41,603
|
1
|
1
|
The accompanying notes on pages 37 to 64 form part of and are to be read in conjunction with these financial statements.
|
