 |
|
INVESTOR INFORMATION
|
|
|
|
|
ANNUAL REPORT 2005 |
|
| CONSOLIDATED STATEMENT
OF CASH FLOWS |
|
| |
| |
|
2005 |
|
|
2004 |
|
| |
|
QR’000
|
|
|
QR’000
|
|
| OPERATING ACTIVITIES |
|
|
|
|
|
|
| Net profit for the year |
|
289,980
|
|
|
123,802 |
|
| Adjustments for: |
|
|
|
|
|
|
| Depreciation |
|
4,405
|
|
|
4,012 |
|
| Interest and investment income |
|
(233,895)
|
|
|
(116,305) |
|
| Impairment loss on investments |
|
340 |
|
|
17,155 |
|
| Unrealized gains on investments |
|
(18,760)
|
|
|
(7,019) |
|
| Provision for employee terminal benefits |
|
4,196
|
|
|
3,337 |
|
| Provision for doubtful debts |
|
2,037
|
|
|
3,298 |
|
| Profit on sale of property and equipment |
|
(59)
|
|
|
(120) |
|
| |
|
------------------- |
|
|
----------------- |
|
| |
|
|
|
|
|
|
| |
|
43,244
|
|
|
28,160 |
|
| Increase in insurance reserves net |
|
59,734
|
|
|
9,211 |
|
| Increase in provisions, insurance and other payables |
|
35,265 |
|
|
44,488 |
|
| |
|
------------------- |
|
|
----------------- |
|
| Cash Generated from Operations |
|
138,243
|
|
|
81,859 |
|
| |
|
------------------- |
|
|
----------------- |
|
| |
|
|
|
|
|
|
| Contribution to social fund |
|
(7,100)
|
|
|
(4,125) |
|
| Board of directors’ remuneration paid |
|
(3,240)
|
|
|
(2,700) |
|
| Employee terminal benefits paid |
|
(1,133)
|
|
|
(1,163) |
|
| |
|
(1,163)
|
|
|
(127) |
|
| |
|
|
|
|
|
|
| Net Cash from Operating Activities |
|
126,770
|
|
|
73,871 |
|
| |
|
------------------- |
|
|
----------------- |
|
| INVESTING ACTIVITIES |
|
|
|
|
|
|
| Net cash movement in investments |
|
(262,321)
|
|
|
39,050 |
|
| Purchase of property and equipment |
|
(49,176)
|
|
|
(19,574) |
|
| Interest and dividend income received |
|
78,398
|
|
|
40,202 |
|
| Proceeds from sale of property and equipment |
|
156
|
|
|
348 |
|
| |
|
------------------- |
|
|
----------------- |
|
| Net Cash (Used in) from Investing Activities |
|
(232,943)
|
|
|
60,026 |
|
| |
|
------------------- |
|
|
----------------- |
|
| FINANCING ACTIVITIES |
|
|
|
|
|
|
| Minority interest |
|
929
|
|
|
21,307 |
|
| Dividends paid |
|
(91,476)
|
|
|
(63,888) |
|
| Right Issue |
|
622,908
|
|
|
-- |
|
| |
|
|
|
|
|
|
| Net Cash from (Used in) Financing Activities
|
|
532,361
|
|
|
42,581 |
|
| |
|
------------------- |
|
|
----------------- |
|
| IINCREASE IN CASH AND CASH EQUIVALENTS
|
|
426,188
|
|
|
91,316 |
|
| |
|
|
|
|
|
|
| Cash and cash equivalents at the beginning of the year |
|
311,292
|
|
|
219,976 |
|
| |
|
------------------- |
|
|
----------------- |
|
| CASH AND CASH EQUIVALENTS AT THE END
OF THE YEAR |
4 |
737,480
|
|
|
311,292 |
|
| |
|
------------------- |
|
|
----------------- |
|
|
