2017 WEL Networks
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Annual Report
32
WEL NETWORKS LIMITED
Statement of cash flows
For the year-ended 31 March 2017
Notes
2017
$’000
2016
$’000
Cash flows from operating activities
Receipts from customers
165,239
203,550
Payments to employees and suppliers
(116,123)
(137,738)
Income taxes paid
(3,927)
(2,498)
Net cash inflow / (outflow) from operating activities
26
45,189
63,314
Cash flows from investing activities
Purchases of property, plant and equipment
(78,099)
(42,646)
Purchases of intangible assets
(3,745)
(2,588)
Purchase of investments (net of cash)
(164,621)
(74,418)
Net cash inflow / (outflow) from investing activities
(246,465)
(119,652)
Cash flows from financing activities
Proceeds from borrowings
215,281
74,893
Interest paid
(8,866)
(8,739)
Interest on convertible notes
(2,449)
(2,456)
Dividends paid
(1,127)
(351)
Net cash inflow / (outflow) from financing activities
202,839
63,347
Net increase (decrease) in cash and cash equivalents
1,563
7,009
Cash and cash equivalents at the beginning of the financial year
4,049
(2,960)
Cash and cash equivalents at end of year
5,612
4,049
The above statement of cashflows should be read in conjunction with the accompanying notes.
