| 12 Months |
|
1.0 |
|
|
|
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2006 |
|
05-06 |
|
| to end Jan |
|
1.0 |
|
|
|
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
Jan |
|
Year |
|
| CASHFLOW PROJECTIONS |
|
1.0 |
|
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
|
$000 |
|
| |
|
1.0 |
|
|
|
|
| Cash receipts |
|
1.0 |
|
|
|
|
| Cash
sales & accounts receivable (Note 1) |
|
171.4 |
304.0 |
320.7 |
291.5 |
325.3 |
321.4 |
363.3 |
371.0 |
398.3 |
428.9 |
437.8 |
448.0 |
|
4,181.5
|
|
| Proceeds
of new stock issues |
|
|
25.0 |
|
|
|
|
300.0 |
|
|
|
|
|
|
325.0 |
|
| Increases in longterm
debt/notes |
|
|
|
50.0 |
|
|
|
|
|
250.0 |
250.0 |
|
|
|
550.0 |
|
| Increases in other loans |
|
|
|
|
|
|
125.0 |
|
|
|
|
|
|
|
125.0 |
|
| Proceeds
from disposals of fixed assets |
|
|
|
25.0 |
|
|
|
|
|
|
|
|
50.0 |
|
75.0 |
|
| Sales
Tax recovered from State |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Miscellaneous income received |
|
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
|
120.0 |
|
| Interest received |
|
0.0
|
|
|
|
|
0.1
|
0.4
|
|
0.4
|
0.4
|
0.7
|
0.1
|
|
2.1
|
|
| Total cash receipts |
|
1.0 |
|
181.4
|
339.0
|
405.7
|
301.5
|
335.3
|
456.5
|
673.7
|
381.0
|
658.7
|
689.3
|
448.5
|
508.1
|
|
5,378.6
|
|
| |
|
1.0 |
|
|
|
|
| Cash payments |
|
1.0 |
|
|
|
|
| Materials/goods
accounts payable (Note 2) |
|
117.1 |
150.6 |
130.0 |
103.4 |
109.2 |
118.6 |
123.6 |
132.6 |
141.7 |
146.2 |
150.5 |
154.7 |
|
1,578.2
|
|
| Total direct cost payments
(Note 3) |
|
21.8 |
53.0 |
68.2 |
71.0 |
76.2 |
84.8 |
88.9 |
95.3 |
100.2 |
103.0 |
108.2 |
113.5 |
|
983.8 |
|
| Total
overhead expense payments (Note 4) |
|
66.2 |
134.6
|
153.8
|
154.8
|
155.4
|
155.9 |
156.9 |
157.4
|
157.5
|
158.0
|
158.2
|
158.2
|
|
1,766.6
|
|
| Taxes
paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividends
paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease repayments |
|
10.0 |
10.0 |
10.0 |
12.0 |
18.0 |
10.0 |
12.0 |
18.0 |
10.0 |
2.0 |
8.0 |
|
|
120.0 |
|
| Lease interest expense |
|
5.0 |
5.0 |
5.0 |
7.5 |
10.0 |
5.0 |
7.5 |
10.0 |
5.0 |
2.5 |
5.0 |
|
|
67.5 |
|
| Total
capital expend. payments (Note 5) |
|
|
|
45.0 |
|
|
|
|
|
|
|
350.0 |
|
|
395.0 |
|
| Operating lease payments |
|
5.5 |
5.5 |
5.5 |
5.5 |
5.5 |
5.5 |
5.5 |
5.5 |
5.5 |
5.5 |
5.5 |
5.5 |
|
66.0 |
|
| Longterm debt/note repayments |
|
25.0 |
|
|
25.0 |
|
|
25.0 |
|
|
25.0 |
|
|
|
100.0 |
|
| Other loan repayments |
|
|
|
|
|
|
|
|
|
|
25.0 |
|
|
|
25.0 |
|
| Sales
Tax paid on o/h expense, capex etc. inputs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Tax
paid to State |
|
20.0 |
8.6 |
10.5 |
10.1 |
11.8 |
9.4 |
13.2 |
12.0 |
13.9 |
15.3 |
15.4 |
15.4 |
|
155.7
|
|
| Opening payroll taxes/benefits
paid |
|
25.0 |
|
|
|
|
|
|
|
|
|
|
|
|
25.0 |
|
| Changes in prepaid expenses |
|
(10.0) |
|
|
|
|
|
|
|
|
|
|
|
|
(10.0) |
|
| Changes in accrued expenses |
|
|
20.0 |
|
|
|
|
|
|
|
|
|
|
|
20.0 |
|
| Interest paid |
|
3.9
|
4.5
|
5.3 |
6.1
|
6.8
|
7.1
|
6.3
|
3.8
|
5.5
|
5.6 |
8.8
|
8.4 |
|
72.1
|
|
| Total cash payments |
|
1.0 |
|
289.5
|
391.8
|
433.2
|
395.4
|
392.9
|
396.4
|
438.9
|
434.5
|
439.2
|
487.9
|
809.6
|
455.7
|
|
5,364.9
|
|
| |
|
1.0 |
|
|
|
|
| Net cashflow |
|
1.0 |
|
(108.1) |
(52.8) |
(27.5) |
(93.8) |
(57.5) |
60.1 |
234.7
|
(53.5) |
219.5
|
201.3
|
(361.0) |
52.4 |
|
13.7 |
|
| |
Opening |
1.0 |
|
Opening |
|
|
|
|
| Closing net cash balance
(deficit) |
(110.0) |
1.0 |
|
(110.0) |
|
(218.1) |
(270.9) |
(298.4) |
(392.3) |
(449.8) |
(389.7) |
(155.0) |
(208.5) |
11.0 |
212.3
|
(148.8) |
(96.3) |
|
(96.3) |
|
| Notes on Cashflow Projections |
1.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
1.0 |
|
|
|
|
| Note 1 |
|
1.0 |
|
|
|
|
| Cash sales & accounts receivable (Net
of bad debts): |
1.0
|
|
|
|
|
| - Group1 |
|
16.0
|
86.8
|
101.9
|
101.1
|
114.4
|
102.7
|
127.0
|
117.1
|
131.5
|
145.9
|
149.1
|
146.9
|
|
1,340.4
|
|
| - Group2 |
|
5.2
|
31.7
|
53.2
|
67.6
|
75.5
|
75.7
|
86.7
|
96.4
|
105.7
|
112.0
|
113.6
|
122.2
|
|
945.5
|
|
| - Group3 |
|
2.5
|
14.9
|
25.0
|
31.7
|
35.4
|
35.5
|
40.7
|
45.2
|
49.6
|
52.6
|
53.3
|
57.3
|
|
443.7
|
|
| - Group4 |
|
12.7
|
70.6
|
90.5
|
91.0
|
100.0
|
107.5
|
109.0
|
112.2
|
111.4
|
118.4
|
121.9
|
121.6
|
|
1,166.9 |
|
| Opening accounts receivable |
|
135.0 |
100.0 |
50.0 |
|
|
|
|
|
|
|
|
|
|
285.0 |
|
| |
|
1.0 |
|
171.4 |
304.0
|
320.7
|
291.5
|
325.3
|
321.4
|
363.3
|
371.0
|
398.3
|
428.9
|
437.8
|
448.0
|
|
4,181.5
|
|
| Note 2 |
|
1.0 |
|
|
|
|
| Materials/goods accounts payable: |
|
1.0
|
|
|
|
|
| - Group1 |
|
8.3
|
27.6
|
31.7
|
36.0
|
36.5
|
40.9
|
40.2
|
44.0
|
48.1
|
49.6
|
50.2
|
52.6
|
|
465.8
|
|
| - Group2 |
|
3.8
|
14.7
|
21.8
|
25.8
|
27.7
|
31.0
|
34.3
|
37.7
|
40.0
|
41.4
|
43.6
|
43.4
|
|
365.2
|
|
| - Group3 |
|
1.7
|
6.7
|
9.9
|
11.7
|
12.6
|
14.1
|
15.6
|
17.1
|
18.2
|
18.8
|
19.8
|
19.7
|
|
165.7
|
|
| - Group4 |
|
8.3
|
26.5
|
26.6
|
29.9
|
32.4
|
32.7
|
33.5
|
33.8
|
35.4
|
36.3
|
36.9
|
39.1
|
|
371.4
|
|
| Opening accounts payable |
|
95.0 |
75.0 |
40.0 |
|
|
|
|
|
|
|
|
|
|
210.0 |
|
| |
|
1.0 |
|
117.1 |
150.6
|
130.0
|
103.4
|
109.2 |
118.6
|
123.6 |
132.6
|
141.7 |
146.2
|
150.5
|
154.7
|
|
1,578.2
|
|
| Note 3 |
|
1.0 |
|
|
|
|
| Direct cost payments: |
|
1.0 |
|
|
|
|
| -Wages and salaries (direct) |
|
21.8
|
23.4
|
25.1
|
26.7
|
28.4
|
33.3
|
31.7
|
36.6
|
38.3
|
39.9
|
41.6
|
43.2
|
|
390.1 |
|
| -Payroll taxes/benefits (direct) |
|
|
14.5 |
15.6 |
16.7 |
17.8 |
18.9 |
22.2 |
21.1 |
24.4 |
25.5 |
26.6 |
27.7 |
28.8 |
231.2 |
|
| -Utilities (variable) |
|
|
|
12.5
|
12.5
|
12.5
|
15.0
|
15.0
|
17.5
|
17.5
|
17.5
|
17.5
|
20.0
|
|
157.5 |
|
| -Repairs/maintenance (variable) |
|
|
15.0
|
15.0
|
15.0
|
17.5
|
17.5
|
20.0
|
20.0
|
20.0
|
20.0
|
22.5
|
22.5
|
|
205.0 |
|
| -Subcontract |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Consumables A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Consumables B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Consumables C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
1.0 |
|
21.8 |
53.0 |
68.2 |
71.0 |
76.2 |
84.8 |
88.9 |
95.3 |
100.2 |
103.0 |
108.2 |
113.5 |
|
983.8 |
|
| Note 4 |
|
1.0 |
|
|
|
|
| Overhead expense payments: |
|
1.0 |
|
|
|
|
| -Repairs/maintenance (fixed) |
|
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
|
27.5 |
|
| -Cleaning |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Utilities (fixed) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Miscellaneous indirect expenses |
|
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
|
55.0 |
|
| -Wages and salaries (expenses) |
|
57.3
|
57.3
|
57.3
|
57.3
|
57.3
|
57.3
|
57.3
|
57.3
|
57.3
|
57.3
|
57.3
|
57.3
|
|
687.6 |
|
| -Payroll taxes/benefits (expenses) |
|
|
38.2
|
38.2
|
38.2
|
38.2
|
38.2
|
38.2
|
38.2
|
38.2
|
38.2
|
38.2
|
38.2
|
38.2
|
420.2 < |