59 / 96
55
Consolidated
Note
2016
$’000
2015
$’000
Reconciliation of surplus for the year to net cash inflow from operating activities
Net surplus for the year
78,585
83,269
Non-cash items:
Depreciation,amortisation and impairment
4
5,089
5,390
Bad debts written off
4
107
37
Movement in doubtful debt provision
9
160
97
Amortisation of capitalised lease incentives
409
340
Share of total profits of joint ventures
(8,218)
(1,407)
Other gains - net
5
(45,793)
(15,582)
Other non-cash items in relation to investing and financing activities
-
893
(Increase)/decrease in current assets:
Trade and other receivables
(13,774)
(62,235)
Trade and other receivables - non cash fair value gain
1,030
1,090
Inventories
(268)
2,493
Biological assets
(1,601)
(1,668)
Biological assets - non-cash fair value gain
550
539
Property, plant and equipment disposal
931
-
Dividend paid (minority interest portion)
(1,500)
-
Increase/(decrease) in current liabilities:
Trade and other payables and employee entitlements
(2,447)
586
Other
-
-
Dividends received from investments in other financial assets
(1,299)
(896)
Net cash inflow from operating activities
11,961
12,946
WAIKATO RAUPATU LANDS TRUST
Statement of cash flows (continued)
FOR THE YEAR ENDED 31 MARCH 2016
These financial statements should be read in conjunction with the accompanying notes.