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22. Cash Flow Information

a. Reconciliation of profit after income tax to net cash inflow from operating activities

Reconciliation of profit after income tax to net cash inflow from operating activities

June
2020
$'000

June
2019
$'000

Profit for the year

22,557

30,272

Adjustment for:

Depreciation and amortisation

26,979

14,296

Pension costs

-85

-389

Income tax expense

9,683

12,857

Income tax paid

-5,831

-14,283

Interest received

-1,762

-3,629

Interest expense

5,507

546

Doubtful debt expense

976

877

(Profit)/loss on disposal of fixed assets

-52

72

SAFA loan revaluation

130

-

Change in operating assets and liabilities:

(Increase)/decrease in trade debtors

55,034

-19,907

(Increase)/decrease in inventories

71

175

(Decrease)/increase in trade creditors

-41,476

6,665

(Decrease)/increase in other provisions

10,856

-7,216

(Increase)/decrease in prepayments

-2,547

1,665

(Decrease)/increase in contract liabilities

-34,891

-56,515

(Increase)/decrease in contract assets

-9,666

-9,541

Net cash inflow (outflow) from operating activities

35,483

-44,055

b. Net debt reconciliation

This section sets out an analysis of net debt and the movements in net debt for each of the periods presented.

Net debt reconciliation

Interest bearing liabilities

Lease
liabilities

Non-interest bearing liabilities

Total

$'000

$'000

$'000

$'000

Balance at 1 July 2018

90,770

-

3

90,773

Net financing cash flows1

-26,305

-

-

-26,305

Non-cash changes:

Effects of changes in exchange rates

1,323

-

-

1,323

Other

-

-

-

-

Balance at 30 June 2019

65,788

-

3

65,791

Balance at 1 July 2019

65,788

-

3

65,791

Recognised on adoption of AASB 16

-

152,852

152,852

Net financing cash flows1

92

-13,003

-

-12,911

Non-cash changes:

Effects of changes in exchange rates

74

-

-

74

Other

-

-

131

131

Balance at 30 June 2020

65,954

139,849

134

205,937

1 Financing cash flows consist of the net amount of proceeds from borrowings and repayment of borrowings in the statement of cash flows.