| |
|
|
| |
Consolidated Statement of Cash Flows
|
| |
|
Year Ended
31 December |
| |
|
|
 |
2004 |
|
|
2003 |
| |
Operating Activities |
|
|
|
|
|
| |
Profit before taxation |
|
$ 10,519,501 |
|
|
$ 5,976,825 |
| |
Adjustments for non-cash items in operating activities |
|
(12,008,990) |
|
|
(12,434,851) |
| |
|
|
|
|
|
|
| |
Cash Flows Before Changes In Operating Assets |
|
|
|
|
(6,458,026) |
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| |
Changes in Operating Assets |
|
|
|
|
|
| |
New loans, corporate securities and unlisted investments |
|
(58,398,400) |
|
|
(30,481,167) |
| |
Collections and repayments on loans and unlisted investments |
|
58,758,275 |
|
|
41,273,826 |
| |
Decrease/(Increase) in other assets |
|
10,386,778 |
|
|
(235,191) |
| |
Increase/(Decrease) in other liabilities |
|
1,795,329 |
|
|
(615,824) |
| |
|
|
|
|
|
|
| |
|
|
12,541,982 |
|
|
9,941,644 |
| |
|
|
|
|
|
|
| |
Taxation Paid |
|
(2,599) |
|
|
(2,417) |
| |
|
|
|
|
|
|
| |
Cash Provided By Operating Activities |
|
11,049,894 |
|
|
3,481,201 |
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| |
Investing Activities |
|
|
|
|
|
| |
Purchase of long term investments |
|
-- |
|
|
(3,836,954) |
| |
Additions to property, plant and equipment |
|
(3,679,589) |
|
|
(1,756,570) |
| |
Proceeds on sale of property, plant and equipment |
|
273,117 |
|
|
290,474 |
| |
|
|
|
|
|
|
| |
Cash Used In Investing Activities |
|
(3,406,472) |
|
|
(5,303,050) |
| |
|
|
|
|
|
|
| |
Financing Activities |
|
|
|
|
|
| |
New borrowings |
|
60,309,383 |
|
|
59,079,839 |
| |
Repayment of borrowings |
|
(42,239,298) |
|
|
(28,393,779) |
| |
Dividends paid |
|
(3,733,138) |
|
|
(2,531,572) |
| |
|
|
|
|
|
|
| |
Cash Provided By Financing Activities |
|
14,336,947) |
|
|
28,154,488 |
| |
|
|
|
|
|
|
| |
Net Increase In Cash And short Term Funds |
|
21,980,369 |
|
|
26,332,639 |
| |
|
|
|
|
|
|
| |
Cash And Short Term Funds At Beginning Of Year |
|
38,114,894 |
|
|
11,782,255 |
| |
|
|
|
|
|
|
| |
Foreign Exchanges Loss |
|
(11,842)
|
|
|
--- |
| |
|
|
|
|
|
|
| |
Cash And Short Term Funds At End Of Year |
|
$ 60,083,421 |
|
|
$ 38,114,894 |
| |
|
|
|
|
|
|
|
|
|
| |
|
|
| |
Our
Mission
Our
business is to make profitable use of financial and human
capital to create and expand viable, private business enterprises
in Caribbean countries. By supporting entrepreneurship and
sound business practices at all levels, we will help to
meet urgent demands for change and development in the Caribbean
in a volatile, intensely competitive international environment.
Our
Vision
To achieve our mission, we must integrate people, strategy
and operations to achieve execution. We must therefore build
a culture where natural teams thrive, where are able to
build upon our strengths whilst compensating for our weaknesses.
Our culture will continue to be shaped by the idea of freedom
and responsibility within a framework. The company's culture
will be driven by self-disciplined people who are willing
to go to extreme lengths to fulfil their responsibilities.
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