Page 39 - Demo

GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2020 37GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESCONSOLIDATED STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 31 DECEMBER 2020(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)2020 2019Notes $ $Cash flows from operating activitiesProfit/(loss) before taxation 6,999 (7,105)Adjustments to reconcile income before taxation to net cash generated from operating activities:Depreciation of property, plant and equipment 4 & 5 11,250 11,997Depreciation of right-to-use-assets 7 3,302 3,792Amortisation 6 982 957Net change in employee benefits asset/obligation (2,933) (2,131)Unrealised (loss)/gain on revaluation of investment securities (411) 240Gain on disposal of right-of-use assets %u2013 (97)Receivable from sale of property, plant and equipment 4,000 %u2013Loss on disposal of property, plant and equipment 81 %u2013Interest and investment income 16 (725) (663)Finance cost 17 1,010 1,263Foreign exchange loss 66 %u2013Other movements 60 (60)Operating income before working capital changes 23,681 8,193Decrease in inventories 4,826 4,347Increase in trade and other receivables (3,390) (8)Decrease in trade and other payables (3,785) (645)Cash generated from operations 21,332 11,887Interest received 738 671Interest paid (1,010) (1,263)Taxation refund received 712 %u2013Taxation paid (1,078) (1,220)Net cash generated from operating activities 20,694 10,075