Annual Report 2013

Consolidated Statement of Cash Flows

for the year ended 31 December 2013

 

Notes

2013

2012

 

US$’000

US$’000

 

 

 

 

Cash flows from operating activities

 

 

 

(Loss)/profit for the year before tax

 

(42,087)

52,787

Adjustment for:

 

 

 

Foreign exchange movement

 

6,512

641

Share-based payments

3

551

3,165

Finance income

6

(299)

(1,706)

Finance costs

7

31,268

27,157

Depreciation

4

24,344

18,456

Increase in other financial liability

24

5,851

-

(Decrease)/increase in provisions

(199)

1,236

Operating cash flow

25,941

101,736

 

 

 

(Increase)/decrease in inventories

13

(21,774)

3,424

Decrease in trade and other receivables

15

16,505

3,100

Decrease in trade and other payables

25

(12,064)

(4,185)

Cash from operations

8,608

104,075

 

 

 

Interest received

6

299

1,706

Interest paid

(7,549)

(7,014)

 

 

 

Net cash from operating activities

1,358

98,767

 

 

 

Cash flows used in investing activities

 

 

Addition to property, plant and equipment

11

(82,661)

(164,251)

 

 

 

Net cash used in investing activities

(82,661)

(164,251)

 

 

 

Cash flows from financing activities

 

 

Proceeds on the issue of shares

17/18

106,058

60,046

Expenses on the issue of shares

18

(4,103)

(2,836)

Repayment of borrowings

21

(32,395)

(25,875)

Increase in borrowings

21

32,713

-

Payment of obligations under finance leases

22

(560)

(560)

 

 

 

Net cash from financing activities

101,713

30,775

 

 

 

Net increase/(decrease) in cash and cash equivalents

20,410

(34,709)

 

 

 

Cash and cash equivalents at beginning of the year

46,067

77,256

Effect of exchange rate changes on cash and cash equivalents

1,069

3,520

 

 

 

Cash and cash equivalents at the end of the year

16

67,546

46,067