| 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) |
|
175.8 |
327.8 |
347.6 |
319.9 |
355.2 |
351.2 |
393.1 |
400.8 |
428.1 |
458.7 |
467.7 |
477.9 |
|
4,503.9
|
|
| 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 |
|
|
|
50.0 |
|
|
|
|
|
|
|
|
50.0 |
|
100.0 |
|
| 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 |
|
185.9
|
362.8
|
457.6
|
329.9
|
365.2 |
486.3
|
703.5
|
410.8
|
688.5
|
719.1
|
478.4
|
538.0
|
|
5,726.0
|
|
| |
|
1.0 |
|
|
|
|
| Cash payments |
|
1.0 |
|
|
|
|
| Materials/goods
accounts payable (Note 2) |
|
118.7 |
156.0 |
136.6 |
110.8 |
117.0 |
126.4 |
131.4 |
140.4 |
149.5 |
154.0 |
158.3 |
162.5 |
|
1,661.6
|
|
| Total direct cost payments
(Note 3) |
|
24.4 |
57.4 |
72.6 |
75.4 |
80.7 |
89.2 |
93.4 |
99.8 |
104.7 |
107.5 |
112.8 |
118.0 |
|
1,035.9
|
|
| Total
overhead expense payments (Note 4) |
|
67.1 |
138.0
|
173.2
|
174.2
|
174.8 |
175.3 |
176.3
|
176.8 |
176.9
|
177.4
|
177.6
|
177.6
|
|
1,964.9
|
|
| Taxes
paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividends
paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease repayments |
|
10.0 |
10.0 |
10.0 |
14.0 |
18.0 |
10.0 |
14.0 |
18.0 |
10.0 |
4.0 |
8.0 |
|
|
126.0 |
|
| Lease interest expense |
|
5.0 |
5.0 |
5.0 |
10.0 |
10.0 |
5.0 |
10.0 |
10.0 |
5.0 |
5.0 |
5.0 |
|
|
75.0 |
|
| Total
capital expend. payments (Note 5) |
|
|
|
45.0 |
|
|
|
|
|
|
|
400.0 |
|
|
445.0 |
|
| 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 |
|
| Purchases of intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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
|
5.0
|
5.7
|
6.5
|
6.9
|
6.1
|
3.7
|
5.3
|
5.6 |
9.0
|
9.0
|
|
71.3
|
|
| Total cash payments |
|
1.0 |
|
294.6
|
405.0
|
463.5
|
430.8
|
424.2
|
427.8
|
474.9
|
466.1
|
470.8
|
524.2
|
891.6
|
488.0
|
|
5,761.3
|
|
| |
|
1.0 |
|
|
|
|
| Net cashflow |
|
1.0 |
|
(108.7) |
(42.1) |
(5.9) |
(100.9) |
(59.1) |
58.5 |
228.6 |
(55.2) |
217.7
|
195.0
|
(413.2) |
50.0 |
|
(35.3) |
|
| |
Opening |
1.0 |
|
Opening |
|
|
|
|
| Closing net cash balance
(deficit) |
(110.0) |
1.0 |
|
(110.0) |
|
(218.7) |
(260.8) |
(266.7) |
(367.6) |
(426.7) |
(368.1) |
(139.5) |
(194.7) |
23.0 |
218.0
|
(195.3) |
(145.3) |
|
(145.3) |
|
| 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 |
|
1.5
|
8.0
|
9.0
|
9.5
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
|
107.5 |
|
| - Group5 |
|
3.0
|
15.9
|
17.9
|
18.9
|
19.9
|
19.9
|
19.9
|
19.9
|
19.9
|
19.9
|
19.9
|
19.9
|
|
214.9 |
|
| - Group6 |
|
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 |
|
175.8
|
327.8
|
347.6
|
319.9
|
355.2 |
351.2 |
393.1
|
400.8
|
428.1
|
458.7
|
467.7 |
477.9
|
|
4,503.9
|
|
| 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 |
|
0.5
|
1.8
|
2.3
|
2.6
|
2.8
|
2.8
|
2.8
|
2.8
|
2.8
|
2.8
|
2.8
|
2.8
|
|
29.7 |
|
| - Group5 |
|
1.0
|
3.6
|
4.3
|
4.8
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
|
53.7 |
|
| - Group6 |
|
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 |
|
118.7
|
156.0 |
136.6
|
110.8
|
117.0 |
126.4 |
131.4 |
140.4
|
149.5
|
154.0 |
158.3
|
162.5
|
|
1,661.6
|
|
| Note 3 |
|
1.0 |
|
|
|
|
| Direct cost payments: |
|
1.0 |
|
|
|
|
| -Wages and salaries (direct) |
|
24.4
|
26.1 |
27.7 |
29.4 |
31.1 |
36.0 |
34.4 |
39.3 |
41.0 |
42.7 |
44.3 |
46.0 |
|
422.4
|
|
| -Payroll taxes/benefits (direct) |
|
|
16.3 |
17.4 |
18.5
|
19.6 |
20.7 |
24.0 |
22.9 |
26.2 |
27.3 |
28.4 |
29.5 |
30.7 |
250.9
|
|
| -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 |
|
<