Page 65 - UTC Annual Report 2011

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Unit Trust Corporation
Annual Report 2011
For the year ended 31 December, 2011
Expressed in Trinidad & Tobago Dollars
Trinidad & Tobago Unit Trust Corporation
a5
Consolidated Statement of
Cash Flows
31-Dec-11
31-Dec-10
$ ‘000
$ ‘000
OPERATING ACTIVITIES
Net Income before taxation
101,460
55,175
Adjustment to reconcile net income to net cash and cash equivalents
from operating activity:
Depreciation and Amortisation
20,535
19,017
Impairment
-
166,406
Loss on sale of property, plant and equipment
57
315
122,052
240,912
Movements in Working Capital
Decrease/(Increase) in Receivables
716,371
(611,029)
Decrease/(Increase) in Prepayments and Other Assets
1,312
(7,539)
Increase /(Decrease) in Accounts Payable and Liabilities
43,378
(28,188)
Taxation paid
(5,802)
(2,761)
Loss on Discontinued Operations
(24,825)
-
Increase in Sinking Fund Liability
7,805
-
Net Cash Flow From/(Used In) Operating Activities
860,291
(408,604)
INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment
(13,194)
(10,262)
Proceeds from Disposal of Property, Plant and Equipment
516
126
Purchase of Intangible Assets
(1,340)
(4,940)
Purchase of Investment Securities
(838,371)
(373,991)
Proceeds from Disposal of Investments
136,192
1,420,856
Net Cash (Used In)/Flow From Investing Activities
(716,197)
1,031,789
FINANCING ACTIVITIES
Finance Lease Repayments
-
(53,047)
Financial Instruments
(94,887)
(576,493)
Payments to Reserves (net)
25,642
23,315
Distribution
-
(16,587)
Guarantee Reserve Payments
(27,371)
(51,812)
Net Cash Used In Financing Activities
(96,616)
(674,625)
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS
47,478
(51,441)
Cash and Cash Equivalents at beginning of year
260,557
311,998
Cash and Cash Equivalents at end of year
308,035
260,557