| |
Numbers are in Saudi Riyals Thousands or in SR 000’s
| |
2007 |
2006 |
| Cash flows from
operating activities: |
|
|
| Net income |
1,230,024 |
1,148,588 |
| Adjustments to reconcile net income to net cash
provided by operating activities: |
| Depreciation, amortisation and impairment |
403,373 |
265,975 |
| (Gain) on sale of property, plant and equipment |
(1,439) |
(1,666) |
| Share of minority interests in net income of consolidated subsidiaries |
107,858 |
152,438 |
| Changes in operating assets and liabilities: |
|
|
| Trade receivables |
(43,516) |
(415,189) |
| Inventories |
(731,153) |
(215,966) |
| Prepayments and other current assets |
(173,845) |
(6,205) |
| Trade payables |
829,385 |
132,084 |
| Accrued expenses and other current liabilities |
308,517 |
81,534 |
| Employees’ termination benefits |
36,702 |
25,105 |
| Total adjustments |
(371,853) |
(823,252) |
| Net cash provided by operating activities |
858,171 |
325,336 |
| Cash flows from
investing activities
: |
|
|
| Effect on cash flows due to deconsolidation of a subsidiary |
(140,750) |
--- |
| Additions to investments |
(2,799, 122) |
(334,889) |
| Proceeds from sale of investments |
1,778,626 |
2,151,443 |
| Net change in other investments |
(18,705) |
(260,861) |
| Net change in intangible assets |
(130,189) |
(174,370) |
| Addition to property, plant and equipment |
(1,242,634) |
(1,376,583) |
| Proceeds from sale of property, plant and equipment |
--- |
9,274 |
| Net cash (used in) provided by investing activities |
(2,552,774) |
535,736 |
| Cash flows from
financing activities
|
|
|
| Net change in restricted deposits against financing |
69,490 |
(11,194) |
| Net change in short-term bank debts |
(143,050) |
277,501 |
| Net change in long-term debts |
(62,593) |
(445,266) |
| Net changes in minority interests |
(100,399) |
(21,868) |
| Net proceeds from issue of new shares |
--- |
2,391,000 |
| Dividends paid |
(558,802) |
(433,607) |
| Net cash (used in) provided by financing activities |
(795,354) |
1,756,566 |
| Net change in cash and cash equivalents |
(2,489,957) |
2,617,638 |
| Cash and cash equivalents at beginning of the year |
2,820,086 |
202,448 |
| Cash and cash equivalents at end of the year |
330,129 |
2,820,086 |
| Supplemental
schedule of non-cash
information |
|
|
| Unrealized gains (loss) on available-for-sale investments |
396,907 |
(77,655) |
| Foreign currency translation adjustments |
(11,221) |
9,403 |
| Directors’ remuneration |
2,300 |
2,400 |
|
