Page 61 - Demo

ANNUAL REPORT 2023 59GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 31 DECEMBER 2023(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)2023 2022Notes $ $Cash flows from operating activities(Loss)/profit before taxation (10,602) 3,883Adjustments to reconcile income before taxation tonet cash generated from operating activities:Depreciation of property, plant and equipment 4 & 5 9,445 9,889Depreciation of right-of-use-assets 7 3,849 3,523Amortisation 6 808 991Net change in employee benefits asset/obligation (3,490) (3,351)Unrealised gain on revaluation of investment securities (110) (70)(Gain)/loss on disposal of property, plant and equipment (140) 350Interest and investment income (1,404) (773)Finance cost 17 726 733Foreign exchange loss 28 33Other movements (76) (31)Operating (loss)/income before working capital changes (966) 15,177Decrease in inventories 2,271 924Decrease/(increase) in trade and other receivables 13,918 (10,215)Decrease in trade and other payables (1,406) (5,064)Cash generated from operations 13,817 822Interest received 1,404 92Interest paid (726) (733)Taxation paid (1,293) (3,777)Net cash generated from/(used in) operating activities 13,202 (3,596)The accompanying notes form an integral part of these consolidated financial statements.