| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 36 Months |
|
1.0 |
|
|
|
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2006 |
2006 |
2006 |
2006 |
2006 |
2006 |
2006 |
2006 |
2006 |
2006 |
2006 |
2006 |
2007 |
2007 |
2007 |
2007 |
2007 |
2007 |
2007 |
2007 |
2007 |
2007 |
2007 |
2007 |
|
2005 |
2006 |
2007 |
|
| to end Dec
2007 |
|
1.0 |
|
|
|
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
|
Year |
Year |
Year |
|
| CASHFLOW PROJECTIONS |
|
1.0 |
|
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$000 |
$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) |
|
175.5 |
323.4 |
333.0 |
313.3 |
345.5 |
333.2 |
378.5 |
384.7 |
416.4 |
442.2 |
449.2 |
462.1 |
477.5 |
489.6 |
541.4 |
605.5 |
669.5 |
739.3 |
809.0 |
881.7 |
954.7 |
1,028.6 |
1,105.9 |
1,183.5
|
1,265.0 |
1,347.1 |
1,429.6 |
1,520.3 |
1,610.5 |
1,705.3 |
1,802.2 |
1,904.6 |
2,010.0 |
2,119.1 |
2,234.9 |
2,354.5
|
|
4,356.9
|
9,486.1
|
21,302.9
|
|
| Proceeds
of new stock issues |
|
|
1,000.0 |
|
|
|
|
|
|
|
|
|
|
|
2,000.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,000.0 |
|
|
|
|
|
|
|
|
1,000.0 |
2,000.0 |
1,000.0 |
|
| 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 |
|
|
|
|
|
|
|
|
100.0 |
|
|
|
|
|
|
50.0 |
|
|
|
|
|
|
|
|
|
|
60.0 |
|
|
|
|
|
|
|
125.0 |
50.0 |
60.0 |
|
| Sales
tax recovered from State |
|
5.0 |
|
|
|
|
|
|
|
|
|
18.7 |
|
|
|
11.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23.7
|
11.6
|
|
|
| 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 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
10.0 |
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 |
120.0 |
120.0 |
|
| Interest received |
|
0.0
|
1.6
|
2.4
|
2.2
|
1.9
|
1.6
|
1.7
|
1.3
|
1.2
|
1.6
|
1.9
|
0.4
|
0.5
|
3.0
|
6.0 |
5.4
|
3.7
|
2.3
|
1.6
|
1.2
|
1.1
|
0.6
|
0.5
|
0.3
|
0.4
|
|
|
|
1.0
|
0.7
|
|
0.1
|
|
0.4
|
|
0.7
|
|
17.9
|
26.3
|
3.3 |
|
| Total cash receipts |
|
1.0 |
|
190.6
|
1,334.9
|
420.4
|
325.6
|
357.4
|
469.8
|
390.1
|
395.9
|
677.6
|
703.9
|
479.8
|
572.5
|
488.1
|
2,502.7
|
569.0
|
620.9
|
683.2
|
751.6
|
870.6
|
892.9
|
965.8
|
1,039.2
|
1,116.4
|
1,193.8
|
1,275.4
|
1,357.1
|
1,439.6
|
1,530.3
|
2,621.5
|
1,776.0
|
1,812.2
|
1,914.7
|
2,020.0
|
2,129.5
|
2,244.9
|
2,365.1
|
|
6,318.5
|
11,694.1
|
22,486.2
|
|
| |
|
1.0 |
|
|
|
|
|
|
|
|
|
|
| Cash payments |
|
1.0 |
|
|
|
|
|
|
|
|
|
|
| Materials/goods accounts
payable (Note 2) |
|
109.7 |
137.7 |
141.4 |
119.6 |
129.6 |
125.4 |
148.9 |
147.1 |
161.9 |
169.4 |
169.6 |
174.3 |
182.1 |
196.4 |
226.8 |
254.4 |
278.6 |
301.5 |
325.5 |
349.0 |
370.1 |
394.7 |
418.9 |
440.8 |
467.1 |
490.8 |
513.4 |
541.8 |
567.1 |
592.4 |
620.6 |
648.8 |
675.2 |
705.4 |
735.3 |
764.1 |
|
1,734.6
|
3,738.9
|
7,321.9 |
|
| Total direct cost payments
(Note 3) |
|
23.6 |
54.9 |
69.7 |
71.8 |
76.2 |
83.8 |
87.2 |
92.6 |
96.5 |
98.6 |
103.1 |
107.2 |
118.3 |
126.5 |
131.8 |
139.2 |
146.6 |
154.0 |
162.0 |
170.0 |
178.3 |
187.4 |
196.9 |
206.3 |
229.7 |
247.9 |
258.0 |
268.0 |
277.9 |
287.8 |
298.0 |
308.2 |
318.5 |
329.6 |
340.8 |
351.6 |
|
965.1
|
1,917.2
|
3,515.9 |
|
| Total overhead expense
payments (Note 4) |
|
64.4 |
135.8 |
171.6 |
172.4 |
171.3 |
173.2 |
172.9 |
174.0 |
174.7 |
174.7 |
175.0 |
175.5 |
198.8 |
233.0 |
285.3 |
299.0 |
312.9 |
326.8 |
340.9 |
355.0 |
369.2 |
383.7 |
398.1 |
412.8 |
465.5 |
509.3 |
555.2 |
576.7 |
598.6 |
620.6 |
643.2 |
666.0 |
689.1 |
712.9 |
736.9 |
761.5 |
|
1,935.6
|
3,915.5
|
7,535.4 |
|
| Taxes
paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividends
paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease repayments |
|
18.0 |
10.0 |
10.0 |
12.0 |
26.0 |
10.0 |
12.0 |
26.0 |
10.0 |
12.0 |
26.0 |
10.0 |
10.0 |
20.0 |
10.0 |
10.0 |
10.0 |
29.0 |
10.0 |
10.0 |
10.0 |
29.0 |
10.0 |
10.0 |
10.0 |
29.0 |
10.0 |
10.0 |
10.0 |
29.0 |
10.0 |
10.0 |
10.0 |
29.0 |
10.0 |
10.0 |
|
182.0 |
168.0 |
177.0 |
|
| Lease interest expense |
|
10.0 |
5.0 |
5.0 |
7.5 |
15.0 |
5.0 |
7.5 |
15.0 |
5.0 |
7.5 |
15.0 |
5.0 |
5.0 |
12.5 |
5.0 |
5.0 |
5.0 |
22.0 |
5.0 |
5.0 |
5.0 |
22.0 |
5.0 |
5.0 |
5.0 |
22.0 |
5.0 |
5.0 |
5.0 |
22.0 |
5.0 |
5.0 |
5.0 |
22.0 |
5.0 |
5.0 |
|
102.5 |
101.5 |
111.0 |
|
| Total capital expend. payments
(Note 5) |
|
|
|
45.0 |
|
|
|
|
|
|
|
450.0 |
|
|
|
|
350.0 |
300.0 |
95.0 |
|
|
|
|
|
|
|
|
|
|
450.0 |
700.0 |
|
130.0 |
|
|
|
|
|
495.0 |
745.0 |
1,280.0 |
|
| 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 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
|
66.0 |
108.0 |
108.0 |
|
| Longterm debt/note repayments |
|
25.0 |
|
|
25.0 |
|
|
25.0 |
|
|
25.0 |
|
|
|
50.0 |
|
|
|
|
|
|
|
|
|
|
|
50.0 |
|
|
|
|
|
|
|
|
|
|
|
100.0 |
50.0 |
50.0 |
|
| Other loan repayments |
|
|
|
|
|
|
|
|
|
|
25.0 |
|
|
|
20.0 |
|
|
|
|
|
|
|
|
|
|
|
20.0 |
|
|
|
|
|
|
|
|
|
|
|
25.0 |
20.0 |
20.0 |
|
| Purchases of intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales
tax paid on o/h expense, capex etc. inputs |
18.4
|
16.8 |
13.3 |
18.2
|
21.1 |
18.4 |
19.0 |
22.1 |
74.6 |
26.9
|
23.0 |
5.4 |
26.4 |
78.6 |
69.9 |
42.0 |
29.5
|
35.3 |
24.1 |
31.9 |
32.6 |
38.5 |
34.3 |
35.1 |
42.0 |
48.2 |
107.3 |
143.5 |
46.7 |
62.8 |
49.3 |
50.6 |
51.9 |
58.3 |
54.7 |
56.2 |
|
277.3
|
478.1
|
771.4 |
|
| Sales tax
paid to State |
|
|
|
16.8 |
|
26.4 |
|
21.8 |
|
29.6 |
|
|
|
59.2 |
|
|
|
7.0 |
|
86.6 |
|
128.0 |
|
147.2 |
|
186.2 |
|
204.4 |
|
84.4 |
|
271.1 |
|
329.0 |
|
371.4 |
|
|
94.7
|
428.1
|
1,446.6 |
|
| 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 |
|
2.8 |
3.1
|
1.8
|
2.0
|
2.0
|
1.5 |
1.9
|
1.7
|
2.3 |
4.0 |
6.9
|
4.9 |
5.4
|
4.7 |
5.2
|
6.6
|
6.2
|
5.4
|
4.9
|
4.7
|
5.1
|
4.6
|
4.9 |
4.5 |
5.1
|
4.8
|
5.8
|
6.9
|
7.1
|
6.4
|
7.4
|
7.8
|
7.4
|
7.8
|
5.7
|
5.9
|
|
34.8
|
62.2
|
78.2 |
|
| Total cash payments |
|
1.0 |
|
292.4
|
388.7
|
480.1
|
434.1
|
473.1
|
422.8
|
501.7
|
484.0
|
560.0
|
548.7
|
974.1
|
487.8
|
614.3
|
750.6
|
743.1
|
1,115.1
|
1,104.9
|
978.1
|
967.8
|
934.6
|
1,107.4
|
1,069.0
|
1,224.3
|
1,123.4 |
1,419.6
|
1,430.8
|
1,668.1
|
1,560.9
|
2,055.7
|
2,330.0
|
1,913.6
|
1,835.4
|
2,095.2
|
1,874.0
|
2,268.8
|
1,963.3 |
|
6,047.5
|
11,732.5
|
22,415.4 |
|
| |
|
1.0 |
|
|
|
|
|
|
|
|
|
|
| Net cashflow |
|
1.0 |
|
(101.8) |
946.2
|
(59.7) |
(108.6) |
(115.7) |
47.0 |
(111.5) |
(88.0) |
117.5
|
155.2
|
(494.3) |
84.7
|
(126.2) |
1,752.1
|
(174.1) |
(494.3) |
(421.6) |
(226.5) |
(97.2) |
(41.6) |
(141.6) |
(29.8) |
(107.9) |
70.3
|
(144.2) |
(73.8) |
(228.6) |
(30.6) |
565.7
|
(554.0) |
(101.3) |
79.4
|
(75.2) |
255.5
|
(24.0) |
401.9
|
|
270.9
|
(38.4) |
70.8
|
|
| |
|
1.0 |
|
|
|
|
|
|
|
|
|
|
| Closing net cash balance
(deficit) |
|
1.0 |
|
(110.0) |
|
(211.8) |
734.4 |
674.7
|
566.1
|
450.4
|
497.4
|
385.9
|
297.8
|
415.4
|
570.5
|
76.2 |
160.9
|
34.7 |
1,786.8
|
1,612.7
|
1,118.4
|
696.7
|
470.3
|
373.0
|
331.4
|
189.8
|
160.0
|
52.2
|
122.5
|
(21.7) |
(95.5) |
(324.0) |
(354.7) |
211.1
|
(343.0) |
(444.3) |
(364.9) |
(440.1) |
(184.6) |
(208.5) |
193.3
|
|
160.9 |
122.5 |
193.3 |
|
| Notes
on Cashflow Projections |
|
1.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
1.0 |
|
|
|
|
|
|
|
|
|
|
| Note 1 |
|
1.0
|
|
|
|
|
|
|
|
|
|
|
| Cash sales & accounts receivable (Net
of bad debts): |
1.0
|
|
|
|
|
|
|
|
|
|
|
| - Group1 |
|
18.1
|
98.1
|
115.3
|
114.4
|
129.4
|
116.2
|
143.6
|
132.4
|
148.7
|
164.9
|
168.6
|
166.1
|
181.5
|
201.4
|
218.5
|
236.9
|
255.2
|
273.3
|
291.4
|
309.4
|
327.5
|
345.5
|
363.6
|
381.7
|
399.7
|
417.8
|
435.8
|
453.9
|
471.9
|
490.0
|
508.1
|
526.1
|
544.2
|
562.2
|
580.3
|
598.4
|
|
1,515.8 |
3,385.8
|
5,988.4 |
|
| - Group2 |
|
5.9
|
35.5
|
59.6
|
75.6
|
84.5
|
84.7
|
97.0
|
107.9
|
118.3
|
125.4
|
127.1
|
136.9
|
131.8
|
121.2
|
124.6
|
128.9
|
134.2
|
140.9
|
147.9
|
155.3
|
163.1
|
171.2
|
179.8
|
188.8
|
198.2
|
208.1
|
218.5
|
229.5
|
240.9
|
253.0
|
265.6
|
278.9
|
292.9
|
307.5
|
322.9
|
339.0
|
|
1,058.3
|
1,787.6
|
3,155.0 |
|
| - Group3 |
|
2.9
|
17.5
|
29.4
|
37.3
|
41.6
|
41.7
|
47.8
|
53.2
|
58.3
|
61.8
|
62.6
|
68.9
|
73.1
|
71.3
|
77.2
|
84.2
|
91.9
|
101.1
|
111.3
|
122.4
|
134.6
|
148.1
|
162.9
|
179.2
|
197.1
|
216.8
|
238.5
|
262.3
|
288.6
|
317.4
|
349.2
|
384.1
|
422.5
|
464.7
|
511.2
|
562.3
|
|
522.9
|
1,357.3
|
4,214.8 |
|
| - Group4 |
|
1.8
|
9.4
|
10.5
|
11.1
|
11.7
|
11.7
|
11.7
|
11.7
|
11.7
|
11.7
|
11.7
|
11.7
|
11.7
|
13.4
|
22.8
|
33.3
|
44.4
|
56.1
|
67.8
|
79.5
|
91.2
|
102.9
|
114.6
|
126.3
|
138.0
|
149.6
|
161.3
|
173.0
|
184.7
|
196.4
|
208.1
|
219.8
|
231.5
|
243.2
|
254.9
|
266.6
|
|
126.3
|
764.0
|
2,427.1 |
|
| - Group5 |
|
3.5
|
18.7
|
21.0
|
22.2
|
23.4
|
23.4
|
23.4
|
23.4
|
23.4
|
23.4
|
23.4
|
23.4
|
23.4
|
26.9
|
45.6
|
66.6
|
88.9
|
112.2
|
135.6
|
159.0
|
182.4
|
205.8
|
229.1
|
252.5
|
275.9
|
299.3
|
322.7
|
346.1
|
369.4
|
392.8
|
416.2
|
439.6
|
463.0
|
486.4
|
509.7
|
533.1
|
|
252.5
|
1,528.0
|
4,854.2 |
|
| - Group6 |
|
8.5
|
44.3
|
47.2
|
52.7
|
54.9
|
55.6
|
55.1
|
56.1
|
56.0
|
55.1
|
55.9
|
55.1
|
56.1
|
55.4
|
52.7
|
55.5
|
54.9
|
55.6
|
55.1
|
56.1
|
56.0
|
55.1
|
55.9
|
55.1
|
56.1
|
55.4
|
52.7
|
55.5
|
54.9
|
55.6
|
55.1
|
56.1
|
56.0
|
55.1
|
55.9
|
55.1
|
|
596.2
|
663.3
|
663.3 |
|
| Adjustments to receivable levels |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Opening accounts receivable |
|
135.0 |
100.0 |
50.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
285.0 |
|
|
|
| |
|
1.0
|
|
175.5
|
323.4
|
333.0
|
313.3
|
345.5
|
333.2
|
378.5
|
384.7
|
416.4
|
442.2
|
449.2
|
462.1
|
477.5
|
489.6
|
541.4
|
605.5
|
669.5
|
739.3
|
809.0
|
881.7
|
954.7
|
1,028.6
|
1,105.9
|
1,183.5 |
1,265.0
|
1,347.1
|
1,429.6
|
1,520.3
|
1,610.5
|
1,705.3
|
1,802.2
|
1,904.6
|
2,010.0
|
2,119.1
|
2,234.9
|
2,354.5 |
|
4,356.9
|
9,486.1
|
21,302.9 |
|
| Note 2 |
|
1.0
|
|
|
|
|
|
|
|
|
|
|
| Material/goods accounts payable: |
|
1.0
|
|
|
|
|
|
|
|
|
|
|
| - Group1 |
|
4.5
|
21.1
|
34.6
|
37.4
|
43.3
|
40.0
|
52.7
|
44.5
|
55.5
|
59.7
|
58.3
|
58.0
|
67.3
|
78.1
|
87.4
|
95.1
|
101.6
|
107.5
|
113.1
|
118.8
|
124.5
|
130.2
|
135.8
|
141.5
|
147.2
|
152.8
|
158.5
|
164.2
|
169.8
|
175.5
|
181.2
|
186.8
|
192.5
|
198.2
|
203.8
|
209.5
|
|
509.6
|
1,300.8
|
2,139.9 |
|
| - Group2 |
|
0.5
|
8.1
|
24.6
|
30.5
|
32.6
|
33.1
|
39.4
|
43.1
|
47.0
|
48.4
|
49.0
|
52.8
|
47.2
|
43.6
|
47.1
|
48.2
|
50.0
|
52.0
|
53.5
|
55.1
|
56.7
|
58.3
|
59.9
|
61.6
|
63.2
|
64.9
|
66.6
|
68.3
|
70.0
|
71.7
|
73.4
|
75.1
|
76.8
|
78.4
|
80.0
|
81.6
|
|
409.0
|
633.2
|
870.3 |
|
| - Group3 |
|
0.3
|
4.3
|
12.8
|
15.9
|
16.9
|
17.2
|
20.4
|
22.3
|
24.4
|
25.1
|
25.4
|
28.8
|
31.6
|
34.3
|
35.0
|
37.4
|
40.2
|
43.5
|
47.2
|
51.3
|
55.7
|
60.5
|
65.7
|
71.3
|
77.4
|
84.1
|
91.2
|
98.9
|
107.3
|
116.4
|
126.2
|
136.8
|
148.3
|
160.6
|
174.0
|
188.5
|
|
213.7
|
573.9
|
1,509.8 |
|
| - Group4 |
|
0.9
|
3.2
|
3.9
|
4.4
|
4.6
|
4.6
|
4.6
|
4.6
|
4.6
|
4.6
|
4.6
|
4.6
|
4.6
|
8.6
|
19.4
|
25.4
|
31.0
|
35.8
|
39.8
|
43.7
|
47.5
|
51.1
|
54.7
|
58.1
|
61.4
|
64.6
|
67.6
|
70.6
|
73.4
|
76.2
|
78.8
|
81.3
|
83.7
|
86.0
|
88.1
|
90.2
|
|
49.0
|
419.7
|
921.8 |
|
| - Group5 |
|
3.0
|
9.3
|
8.6
|
9.3
|
9.4
|
9.2
|
9.2
|
9.2
|
9.2
|
9.2
|
9.2
|
9.2
|
8.9
|
11.4
|
20.4
|
28.2
|
36.3
|
44.5
|
52.3
|
59.9
|
67.6
|
75.3
|
82.7
|
90.4
|
97.9
|
105.0
|
112.5
|
119.9
|
126.9
|
134.4
|
141.6
|
148.5
|
155.9
|
162.9
|
169.3
|
176.5
|
|
103.7
|
578.0
|
1,651.1 |
|
| - Group6 |
|
5.4
|
16.6
|
16.9
|
22.2
|
22.8
|
21.4
|
22.6
|
23.5
|
21.3
|
22.5
|
23.2
|
21.0
|
22.6
|
20.4
|
17.4
|
20.1
|
19.5
|
18.2
|
19.4
|
20.2
|
18.1
|
19.4
|
20.0
|
17.8
|
20.0
|
19.4
|
16.9
|
20.0
|
19.5
|
18.2
|
19.4
|
20.2
|
18.1
|
19.4
|
20.0
|
17.8
|
|
239.5
|
233.2
|
229.0 |
|
| Adjustments to payable levels |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Opening accounts payable |
|
95.0 |
75.0 |
40.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
210.0 |
|
|
|
| |
|
1.0
|
|
109.7
|
137.7
|
141.4
|
119.6
|
129.6
|
125.4
|
148.9
|
147.1
|
161.9
|
169.4
|
169.6
|
174.3
|
182.1
|
196.4
|
226.8
|
254.4
|
278.6
|
301.5
|
325.5
|
349.0
|
370.1
|
394.7
|
418.9
|
440.8 |
467.1
|
490.8
|
513.4
|
541.8
|
567.1
|
592.4
|
620.6
|
648.8
|
675.2
|
705.4
|
735.3
|
764.1 |
|
1,734.6
|
3,738.9
|
7,321.9 |
|
| Note 3 |
|
1.0
|
|
|
|
|
|
|
|
|
|
|
| Direct cost payments: |
|
1.0
|
|
|
|
|
|
|
|
|
|
|
| -Wages and salaries (direct) |
|
23.6 |
24.2 |
26.0 |
26.9 |
28.3 |
32.5 |
30.5 |
34.7 |
35.8 |
37.2 |
38.3 |
39.2 |
49.7 |
51.4 |
54.6 |
56.8 |
59.7 |
62.2 |
65.5 |
68.4 |
71.7 |
75.6 |
79.5 |
83.3 |
101.2 |
104.4 |
109.4 |
113.1 |
117.5 |
121.4 |
126.1 |
130.2 |
134.7 |
139.8 |
144.6 |
149.3 |
|
377.2
|
778.3
|
1,491.5 |
|
| -Payroll taxes/benefits (directs) |
|
|
15.7 |
16.1 |
17.4 |
17.9 |
18.9 |
21.6 |
20.4 |
23.1 |
23.9 |
24.8 |
25.5 |
26.1 |
33.1 |
34.2 |
36.4 |
37.9 |
39.8 |
41.5 |
43.7 |
45.6 |
47.8 |
50.4 |
53.0 |
55.5 |
67.5 |
69.6 |
72.9 |
75.4 |
78.3 |
80.9 |
84.0 |
86.8 |
89.8 |
93.2 |
96.4 |
|
225.3
|
489.5
|
950.4 |
|
| -Utilities (variable) |
|
|
|
12.5
|
12.5
|
12.5
|
15.0
|
15.0
|
17.5
|
17.5
|
17.5
|
17.5
|
20.0
|
20.0
|
20.0
|
20.0
|
22.0
|
24.0
|
26.0
|
28.0
|
30.0
|
32.0
|
34.0
|
36.0
|
38.0
|
40.0
|
42.0
|
44.0
|
46.0
|
48.0
|
50.0
|
52.0
|
54.0
|
56.0
|
58.0
|
60.0
|
62.0
|
|
157.5 |
330.0 |
612.0 |
|
| -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
|
22.5
|
22.0
|
23.0
|
24.0
|
25.0
|
26.0
|
27.0
|
28.0
|
29.0
|
30.0
|
31.0
|
32.0
|
33.0
|
34.0
|
35.0
|
36.0
|
37.0
|
38.0
|
39.0
|
40.0
|
41.0
|
42.0
|
43.0
|
44.0
|
|
205.0 |
319.5 |
462.0 |
|
| -Subcontract |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Consumables A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Consumables B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Consumables C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Consumables D |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Consumables E |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
1.0
|
|
23.6
|
54.9
|
69.7
|
71.8
|
76.2
|
83.8
|
87.2
|
92.6
|
96.5
|
98.6
|
103.1
|
107.2
|
118.3
|
126.5
|
131.8
|
139.2
|
146.6
|
154.0
|
162.0
|
170.0
|
178.3
|
187.4
|
196.9
|
206.3 |
229.7
|
247.9
|
258.0
|
268.0
|
277.9
|
287.8
|
298.0
|
308.2
|
318.5
|
329.6
|
340.8
|
351.6 |
|
965.1
|
1,917.2
|
3,515.9 |
|
| 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
|
2.5
|
3.5
|
3.5
|
3.5
|
3.5
|
3.5
|
3.5
|
3.5
|
3.5
|
3.5
|
3.5
|
3.5
|
3.5
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
|
27.5 |
41.0 |
69.5 |
|
| -Power (fixed) |
|
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
|
27.5 |
46.5 |
59.0 |
|
| -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
|
5.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
|
55.0 |
71.0 |
72.0 |
|
| -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
|
80.6
|
87.2
|
93.8
|
100.4
|
107.1
|
113.8
|
120.5
|
127.3
|
134.1
|
141.0
|
147.9
|
154.9
|
188.2
|
197.6
|
207.0
|
216.5
|
226.1
|
235.8
|
245.6
|
255.4
|
265.3
|
275.3
|
285.4
|
295.6
|
|
687.6 |
1,408.6
|
2,893.8 |
|
| -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
|
53.8
|
58.1
|
62.5
|
66.9
|
71.4
|
75.8
|
80.3
|
84.9
|
89.4
|
94.0
|
98.6
|
103.3
|
125.4
|
131.7
|
138.0
|
144.4
|
150.8
|
157.2
|
163.7
|
170.3
|
176.9
|
183.5
|
190.3
|
|
420.2 |
874.0
|
1,835.4 |
|
| -Freight |
|
4.7 |
5.5 |
5.7 |
6.3 |
5.5 |
6.8 |
6.6 |
7.3 |
7.8 |
7.8 |
8.0 |
8.3 |
8.3 |
9.3 |
10.6 |
11.7 |
12.9 |
14.1 |
15.3 |
16.6 |
17.8
|
19.2
|
20.5
|
21.9
|
34.9 |
37.0
|
39.4
|
41.6
|
44.1
|
46.6
|
49.2
|
51.9
|
54.7
|
57.7
|
60.8
|
64.1
|
|
80.5
|
178.2
|
582.1 |
|
| -Selling exs/commissions |
|
2.4 |
2.8 |
2.9 |
3.1 |
2.8 |
3.4 |
3.3 |
3.7 |
3.9 |
3.9 |
4.0 |
4.2 |
4.2 |
4.7 |
5.3 |
5.9 |
6.5 |
7.0 |
7.7 |
8.3 |
8.9 |
9.6 |
10.2
|
10.9
|
11.6 |
12.3
|
13.1
|
13.9
|
14.7
|
15.5
|
16.4 |
17.3
|
18.2
|
19.2
|
20.3
|
21.4
|
|
40.3
|
89.1
|
194.0 |
|
| -Advertising & brochures |
|
|
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
|
80.0 |
176.0 |
192.0 |
|
| -Special promotion 1 |
|
|
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
|
80.0 |
176.0 |
192.0 |
|
| -Special promotion 2 |
|
|
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
8.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
16.0
|
|
80.0 |
176.0 |
192.0 |
|
| -Travel expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Public relations, exhibitions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Miscellaneous selling/freight |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Office supplies etc. |
|
|
1.5
|
1.5
|
1.5
|
1.5
|
1.5
|
1.5
|
1.5
|
1.5
|
1.5
|
1.5
|
1.5
|
1.5
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
7.0
|
8.0
|
9.0
|
10.0
|
11.0
|
12.0
|
13.0
|
14.0
|
15.0
|
16.0
|
|
16.5 |
67.5 |
127.0 |
|
| -Mail, telephone, telex & fax |
|
|
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
2.5
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.0
|
6.6
|
7.3
|
8.0
|
8.8
|
9.7
|
10.6
|
11.7
|
12.9
|
14.1
|
|
25.0 |
65.0 |
107.6 |
|
| -Travel |
|
|
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
5.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
20.0
|
20.0
|
20.0
|
20.0
|
20.0
|
20.0
|
20.0
|
20.0
|
20.0
|
20.0
|
|
50.0 |
110.0 |
220.0 |
|
| -Pensions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Computer supplies etc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Vehicle expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Other administration expenses A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Other administration expenses B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Other administration expenses C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Consultancy |
|
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
11.0
|
12.0
|
13.0
|
14.0
|
15.0
|
16.0
|
17.0
|
18.0
|
19.0
|
20.0
|
21.0
|
22.0
|
23.0
|
24.0
|
25.0
|
26.0
|
27.0
|
28.0
|
29.0
|
30.0
|
31.0
|
32.0
|
|
110.0 |
175.0 |
318.0 |
|
| -Materials |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Utilities |
|
|
0.5
|
0.5
|
0.5
|
0.5
|
0.5
|
0.5
|
0.5
|
0.5
|
0.5
|
0.5
|
0.5
|
0.5
|
1.0
|
1.0
|
1.0
|
1.0
|
1.0
|
1.0
|
1.0
|
1.0
|
1.0
|
1.0
|
1.0
|
1.0
|
3.0
|
3.0
|
3.0
|
3.0
|
3.0
|
3.0
|
3.0
|
3.0
|
3.0
|
3.0
|
3.0
|
|
5.5 |
11.5 |
34.0 |
|
| -Rent & property taxes |
|
|
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
4.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
25.0
|
25.0
|
25.0
|
25.0
|
25.0
|
25.0
|
25.0
|
25.0
|
25.0
|
25.0
|
|
40.0 |
108.0 |
270.0 |
|
| -Professional fees & audit |
|
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
10.0
|
12.0
|
12.0
|
12.0
|
12.0
|
12.0
|
12.0
|
12.0
|
12.0
|
12.0
|
12.0
|
12.0
|
12.0
|
15.0
|
15.0
|
15.0
|
15.0
|
15.0
|
15.0
|
15.0
|
15.0
|
15.0
|
15.0
|
15.0
|
|
110.0 |
142.0 |
177.0 |
|
| -Insurances |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Other establish expenses A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Other establish expenses B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Other establish expenses C |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| -Other establish expenses D |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
1.0
|
|
64.4
|
135.8
|
171.6
|
172.4
|
171.3
|
173.2
|
172.9
|
174.0
|
174.7
|
174.7
|
175.0
|
175.5
|
198.8
|
233.0
|
285.3
|
299.0
|
312.9
|
326.8
|
340.9
|
355.0
|
369.2 |
383.7 |
398.1 |
412.8 |
465.5 |
509.3 |
555.2 |
576.7 |
598.6 |
620.6 |
643.2 |
666.0 |
689.1 |
712.9 |
736.9 |
761.5 |
|
1,935.6 |
3,915.5 |
7,535.4 |
|
| Note 5 |
|
1.0
|
|
|
|
|
|
|
|
|
|
|
| Capital expenditure payments: |
|
1.0
|
|
|
|
|
|
|
|
|
|
|
| -Land, buildings & improvements |
|
|
|
|
|
|
|
|
|
|
|
150.0
|
|
|
|
|
|
300.0
|
|
|
|
|
|
|
|
|
|
|
|
450.0
|
|
|
|
|
|
|
|
|
150.0 |
300.0 |
450.0 |
|
| -Plant & machinery |
|
|
|
|
|
|
|
|
|
|
|
150.0
|
|
|
|
|
350.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
700.0
|
|
|
|
|
|
|
|
150.0 |
350.0 |
700.0 |
|
| -Computers & equipment |
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
|
|
|
|
|
95.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
130.0
|
|
|
|
|
|
100.0 |
95.0 |
130.0 |
|
| -Automobiles, vehicles etc. |
|
|
|
|
|
|
|
|
|
|
|
50.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
50.0 |
|
|
|
| Opening capex creditor payments |
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45.0 |
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45.0 |
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| |
|
1.0
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45.0 |
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450.0 |
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|
350.0 |
300.0 |
95.0 |
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450.0 |
700.0 |
|
130.0 |
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|
495.0 |
745.0 |
1,280.0 |
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| |
|
1.0 |
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