Page 53 - Demo

GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2021 51GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESCONSOLIDATED STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 31 DECEMBER 2021(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)2021 2020Notes $ $Cash flows from operating activitiesProfit before taxation 6,539 6,999Adjustments to reconcile income before taxation tonet cash generated from operating activities:Depreciation of property, plant and equipment 4 & 5 10,252 11,250Depreciation of right-to-use-assets 7 2,911 3,302Amortisation 6 1,007 982Net change in employee benefits assets/obligations (2,213) (2,933)Unrealised gain on revaluation of investment securities (333) (411)Receivable from sale of property, plant and equipment %u2013 4,000(Gain)/loss on disposal of property, plant and equipment (225) 81Interest and investment income 16 (698) (725)Finance cost 17 706 1,010Foreign exchange loss 60 66Other movements 39 60Operating income before working capital changes 18,045 23,681(Increase)/decrease in inventories (5,999) 4,826Decrease/(increase) in trade and other receivables 2,482 (3,390)Increase/(decrease) in trade and other payables 5,693 (3,785)Cash generated from operations 20,491 21,332Interest received 661 738Interest paid (706) (1,010)Taxation refund received %u2013 712Taxation paid (2,048) (1,078)Net cash generated from operating activities 18,398 20,694The accompanying notes form an integral part of these consolidated financial statements.