| 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) |
|
177.1 |
334.7 |
356.8 |
329.9 |
366.2 |
362.6 |
405.1 |
413.5 |
441.3 |
472.6 |
481.7 |
492.4 |
|
4,633.9
|
|
| 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 |
|
187.1
|
369.7
|
466.8
|
339.9
|
376.2
|
497.7
|
715.5
|
423.5
|
701.7
|
733.0
|
492.4
|
552.5
|
|
5,856.0
|
|
| |
|
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 |
16.8 |
20.9 |
20.8 |
23.1 |
20.8 |
25.3 |
24.9 |
27.1 |
29.3 |
29.6 |
30.0 |
|
288.5
|
|
| 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 |
5.8 |
6.5
|
6.9
|
6.1
|
3.7
|
5.3
|
5.6 |
9.0
|
9.0 |
|
71.4
|
|
| Total cash payments |
|
1.0 |
|
294.6
|
413.1
|
473.9
|
441.4
|
435.5
|
439.2
|
487.0
|
479.0
|
484.0
|
538.2
|
905.7
|
502.6
|
|
5,894.2
|
|
| |
|
1.0 |
|
|
|
|
| Net cashflow |
|
1.0 |
|
(107.5) |
(43.4) |
(7.1) |
(101.5) |
(59.3) |
58.5 |
228.5
|
(55.5) |
217.7
|
194.7
|
(413.3) |
49.9 |
|
(38.3) |
|
| |
Opening |
1.0 |
|
Opening |
|
|
|
|
| Closing net cash balance
(deficit) |
(110.0) |
1.0 |
|
(110.0) |
|
(217.5) |
(260.9) |
(268.0) |
(369.5) |
(428.8) |
(370.3) |
(141.8) |
(197.2) |
20.4 |
215.2
|
(198.1) |
(148.3) |
|
(148.3) |
|
| 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 |
|
5.3
|
32.3
|
54.3
|
68.9
|
76.9
|
77.1
|
88.3
|
98.3
|
107.8
|
114.2
|
115.7
|
124.5
|
|
963.5
|
|
| - Group3 |
|
2.6
|
15.9
|
26.7
|
34.0
|
37.9
|
38.0
|
43.5
|
48.4
|
53.1
|
56.3
|
57.0
|
61.3
|
|
474.8
|
|
| - Group4 |
|
1.6
|
8.5
|
9.6
|
10.1
|
10.6
|
10.6
|
10.6
|
10.6
|
10.6
|
10.6
|
10.6
|
10.6
|
|
115.0
|
|
| - Group5 |
|
3.2
|
17.0
|
19.2
|
20.2
|
21.3
|
21.3
|
21.3
|
21.3
|
21.3
|
21.3
|
21.3
|
21.3
|
|
230.0
|
|
| - Group6 |
|
13.3
|
74.2
|
95.1
|
95.6
|
105.0
|
112.8
|
114.4
|
117.8
|
117.0
|
124.3
|
128.0
|
127.7
|
|
1,225.2
|
|
| - Group7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| - Group8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| - Group9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| - Group10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Opening accounts receivable |
|
135.0 |
100.0 |
50.0 |
|
|
|
|
|
|
|
|
|
|
285.0 |
|
| |
|
1.0 |
|
177.1 |
334.7
|
356.8
|
329.9
|
366.2
|
362.6
|
405.1
|
413.5
|
441.3
|
472.6 |
481.7
|
492.4
|
|
4,633.9
|
|
| 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
|
|
| - Group7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| - Group8 |
|
|