Page 48 - Learn Africa 2021 Annual Report

Learn Africa Plc
Statement of Cash Flows

For the year ended 31 March 2021

Note 31 Mar 2021 31 Mar 2020
N’000 N’000
Operating activities
Profit before taxation 282,088 223,900
Adjustment for non-cash items:
Depreciation of property, plant and equipment 8 60,734 74,976
Amortisation of intangible assets 10 6,652 6,164
Depreciation of right-of-use assets 11 28,633 31,811
Loss/(gain) on sale of property and equipment 5.5 210 (2,230)
Gain on related party loan 5.1 - (5,542)
Loss on sale on investment property 5.5 -
Write-off of investment properties 72,000
Valuation loss/(gain) on investment properties 5.5 34,146 (17,571)
Allowance for expected credit loss 5.8 30,674 133,179
Inventory write-off 5.3 5,457 78,706
Finance cost 5.7 12,042 36,959
Finance income 5.2 (287) (10,595)
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532,349 549,757
Decrease in inventories 355,698 561,365
Decrease/ (increase) in trade and other receivables 49,159 (441,104)
Decrease in trade and other payables (635,619) (636,046)
(Increase)/decrease in prepayment (9,638) 4,242
Decrease in provision (11,293) (72,418)
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280,657 (34,204)
Tax paid 6.2 (168,327) (46,639)
Unclaimed dividend 18.2 (3,374) 25,582
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Net cash flows from/(used in) operating activities 108,956 (55,261)
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Investing activities
Interest income received 5.2 287 10,595
Proceeds from sale of property, plant and equipment 750 2,342
Proceeds from sale of investment properties 685,350 92,000
Additions to right-of-use assets (21,766) (32,454)
Purchase of property, plant and equipment 8 (6,402) (107,965)
Purchase of investment properties 9 (366,252) (194,107)
Purchase of intangible assets 10 (11,500) (8,181)
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Net cash flow from/(used in) investing activities 280,467 (237,770)
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