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Escher Group Holdings plc
Annual report 2011
24
for the year ended 31 December 2011
Consolidated statement of cash flows
Notes
2011
US$’000
2010
US$’000
Cash flows from operating activities
Cash generated from operations
20
2,982
4,252
Interest received
5
7
Interest paid
(418)
(700)
Income tax paid
(698)
(198)
Net cash generated from operating activities
1,871
3,361
Cash flows from investing activities
Additions to intangible assets
(2,207)
(1,021)
Payments to acquire property, plant and equipment
(446)
(211)
Net cash used in investing activities
(2,653)
(1,232)
Cash flows from financing activities
Repayment of borrowings
(16,750)
(1,876)
Funds raised on admission to AIM
23,837
—
Share issue costs paid
(3,483)
—
Net cash generated from/(used in) financing activities
3,604
(1,876)
Net increase in cash and cash equivalents
2,822
253
Cash and cash equivalents at beginning of year
779
583
Foreign exchange adjustments
(162)
(57)
Net increase in cash and cash equivalents
2,822
253
Cash and cash equivalents at end of year
15
3,439
779
The accompanying notes are an integral part of these financial statements.
On behalf of the Board
Liam Church
Trevor McIntyre
Chief Executive Officer
Finance Director
12 April 2012