Annual Report 2015
FINANCIAL SECTION
193
45 NOTES TO CONSOLIDATED STATEMENT OF CASH FLOWS
(a) Reconciliation of operating profit to net cash generated from operations
2015
2014
HK$m
HK$m
Operating profit
27,970.9
16,823.1
Depreciation
1,304.3
1,342.9
Amortisation
1,009.7
930.1
Changes in fair value of investment properties
(3,165.5)
(1,425.5)
Write back of provision for loans and other receivables
(376.6)
(4.9)
Gain on deemed disposal of interests in subsidiaries
–
(31.4)
Gain on deemed disposal of interests in joint ventures
–
(594.3)
Gain on deemed disposal of interest in an associated company
(50.7)
–
Gain on partial disposal of interests in subsidiaries and remeasurement of
retained interest at fair value after reclassification to a joint venture
(13,709.2)
–
Gain on remeasurement of an available-for-sale financial asset retained at
fair value upon reclassification from an associated company
(914.0)
–
Gain on remeasurement of previously held interest of a joint venture
at fair value upon further acquisition to become a subsidiary
(986.6)
(67.3)
Net loss/(gain) on fair value of financial assets at
fair value through profit or loss
38.9
(105.6)
Net (gain)/loss on disposal of
Non-current assets classified as assets held for sale
(30.3)
46.0
Available-for-sale financial assets
(66.2)
(198.2)
Financial assets at fair value through profit or loss
23.5
–
Investment properties and property, plant and equipment
63.2
(41.3)
Subsidiaries
(18.0)
(119.8)
Joint ventures
–
(18.6)
Associated companies
137.9
(1,749.4)
Impairment loss on
Available-for-sale financial assets
11.8
6.6
Loans and other receivables
61.2
91.1
Property, plant and equipment
532.0
4.1
Intangible assets
100.5
125.9
Dividend income from available-for-sale financial assets and financial assets
at fair value through profit or loss
(31.8)
(247.2)
Share options expenses
168.9
98.6
Net exchange (gain)/loss
(93.8)
344.1
Operating profit before working capital changes
11,980.1
15,209.0
(Increase)/decrease in inventories
(77.5)
26.7
Increase in properties for/under development and held for sale
(7,004.7)
(1,752.0)
Increase in debtors and prepayments
(657.7)
(2,836.7)
Increase/(decrease) in creditors and accrued charges
9,588.4
(3,521.7)
Net cash generated from operations
13,828.6
7,125.3
