120 CSE Global Limited 2024 2023 $’000 $’000 Cash flows from operating activities: Profit before tax 35,683 29,557 Adjustments for: Depreciation of property, plant and equipment 12,842 11,845 Depreciation of right-to-use assets 9,905 7,071 Amortisation of intangible assets 4,960 5,020 Writeback of inventories, net (1,048) (373) Allowance for expected credit loss on trade receivables, net 1,588 3,179 Loss/(gain) on disposal and write off of property, plant and equipment 322 (70) Gain on disposal of asset held-for-sale (588) − Gain on liquidation of a subsidiary (266) − Gain on lease modification − (113) Provision for warranties made/(reversed), net 651 (252) Share of loss of an associate 27 23 Interest expense * 8,991 10,696 Interest income (613) (553) Operating cash flows before changes in working capital 72,454 66,030 Increase in trade and other receivables, finance lease receivables and prepaid operating expenses (18,555) (15,534) Decrease in contract assets, net and inventories 3,549 11,900 (Decrease)/increase in trade payables and accruals (9,947) 9,624 Cash generated from operations 47,501 72,020 Interest paid (7,821) (9,867) Interest received 613 363 Income tax paid (7,194) (6,621) Net cash flows generated from operating activities 33,099 55,895 Cash flows from investing activities: Purchase of property, plant and equipment (20,657) (17,910) Purchase of intangible assets (134) (900) Release of restricted cash arising from acquisition of subsidiaries 989 1,107 Acquisition of businesses, net of cash (18,711) (15,949) Proceeds from disposal of property, plant and equipment 735 1,327 Proceeds from sale of asset held-for-sale 4,499 − Release of restricted cash arising from disposal of a property − 7,940 Net cash flows used in investing activities (33,279) (24,385) * Inclusive of $18,000 (2023: $43,000) of interest expenses included in cost of sales. CONSOLIDATED CASH FLOW STATEMENT For the financial year ended 31 December 2024
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