 |
|
INVESTOR INFORMATION
|
|
|
|
ANNUAL REPORT 2006 |
|
| CONSOLIDATED STATEMENT
OF CASH FLOWS Year Ended 31 Decmber 2006 |
| |
| |
|
2006 |
|
|
2005 |
|
| |
|
QR’000
|
|
|
QR’000
|
|
| OPERATING ACTIVITIES |
|
|
|
|
|
|
| Net profit for the year |
|
388,266 |
|
|
284,980 |
|
| Adjustments for: |
|
|
|
|
|
|
| Depreciation |
|
7,241 |
|
|
4,405 |
|
| Interest and investment income |
|
(265,446)
|
|
|
(233,895) |
|
| Impairment loss on investments |
|
-- |
|
|
340 |
|
| Unrealized gains on investments |
|
(28,389)
|
|
|
(18,760) |
|
| Provision for employee terminal benefits |
|
2,738 |
|
|
4,196 |
|
| Provision for doubtful debts |
|
2,249 |
|
|
2,037 |
|
| Profit on sale of property and equipment |
|
(209)
|
|
|
(59) |
|
| |
|
---------------- |
|
|
--------------- |
|
| |
|
|
|
|
|
|
| |
|
106,410 |
|
|
43,244 |
|
| Increase in insurance reserves net |
|
157,868 |
|
|
78,348 |
|
| Insurance and other receivables |
|
(89,842) |
|
|
(20,653) |
|
| Increase in provisions, insurance and other payables |
|
139,862 |
|
|
33,789 |
|
| |
|
---------------- |
|
|
--------------- |
|
| Cash Generated from Operations |
|
314,298 |
|
|
134,728 |
|
| |
|
---------------- |
|
|
--------------- |
|
| |
|
|
|
|
|
|
| Contribution to social fund |
|
(7,100)
|
|
|
(4,125) |
|
| Board of directors’ remuneration paid |
|
(3,240)
|
|
|
(2700) |
|
| Employee terminal benefits paid |
|
(1,811)
|
|
|
(1,133) |
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Net Cash from Operating Activities |
|
302,147 |
|
|
126,770 |
|
| |
|
---------------- |
|
|
--------------- |
|
| INVESTING ACTIVITIES |
|
|
|
|
|
|
| Net cash movement in investments |
|
(111,729))
|
|
|
(262,321) |
|
| Purchase of property and equipment |
|
(61,793)
|
|
|
(49,176) |
|
| Interest and dividend income received |
|
112,857 |
|
|
78,398 |
|
| Proceeds from sale of property and equipment |
|
248 |
|
|
156 |
|
| |
|
--------------- |
|
|
--------------- |
|
| Net Cash Used in Investing Activities |
|
(60,417)
|
|
|
(232,943) |
|
| |
|
---------------- |
|
|
--------------- |
|
| FINANCING ACTIVITIES |
|
|
|
|
|
|
| Minority interest |
|
368 |
|
|
929 |
|
| Dividends paid |
|
(212,355)
|
|
|
(91,476)) |
|
| Right Issue |
|
- |
|
|
622,908 |
|
| |
|
|
|
|
|
|
| Net Cash from (Used in) Financing Activities
|
|
(211,987) |
|
|
532,361 |
|
| |
|
---------------- |
|
|
--------------- |
|
| IINCREASE IN CASH AND CASH EQUIVALENTS
|
|
29,743 |
|
|
426,188 |
|
| |
|
|
|
|
|
|
| Cash and cash equivalents at the beginning of the year |
|
737,480 |
|
|
311,292 |
|
| |
|
---------------- |
|
|
--------------- |
|
| CASH AND CASH EQUIVALENTS AT THE END
OF THE YEAR |
4 |
767,223 |
|
|
737,480 |
|
| |
|
---------------- |
|
|
--------------- |
|
|
