ITF

52 ITF FINANCIAL STATEMENTS CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2014 Note 2014 2013 $000 $000 Cash flows from operating activities Surplus for the year 1,892 3,358 Adjustments for: Depreciation, amortisation and impairment 22 1,106 1,533 Increase in value of investments 19 (87) (2,715) Financial income 19,20 (819) (781) Financial expense 20 _ _ Foreign exchange loss/(gain) 1,257 (419) Gain on sale of investments 19 (496) (197) Taxation 21 320 441 3,173 1,220 Decrease in trade and other receivables 1,823 3,101 Increase in inventories (61) (1) Increase in trade and other payables 121 991 Decrease in deferred income (9,604) (7,008) (4,548) (1,697) Tax paid (163) (441) Net cash from operating activities (4,711) (2,138) Cash flows from investing activities Proceeds from sales of investments 15,291 17,331 Interest and dividends received 663 781 Acquisition of property, plant and equipment (773) (1,338) Disposal/(acquisition) of short term investments (Olympics) 2,462 (14,589) Acquisition of investments (15,269) (17,417) Net cash from investing activities 2,376 (15,232) Cash flows from financing activities Interest paid - - Net cash from financing activities - - Net increase in cash and cash equivalents (2,335) (17,370) Cash and cash equivalents at 1 January 14,263 31,719 Effects of exchange rate fluctuations on cash held (290) (86) Cash and cash equivalents at 31 December 11,638 14,263 Being: Cash and cash equivalents per the balance sheet 10,645 13,859 Other short term deposits 26 993 404 Cash and cash equivalents at 31 December 11,638 14,263

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