Consolidated statement of cash flows

Operating activities

Net result

71,746

30,506

Adjustments for:

Valuation movements

(57,458)

(11,631)

Net finance result

106

68

Movements in working capital

(1,297)

(5,756)

Cash flow generated from operating activities

13,097

13,187

Interest paid

(106)

(68)

Interest received

-

-

Cash flow from operating activities

12,991

13,119

Investment activities

Proceeds from sale of investment property

-

-

Payments of investment property

12

(5,080)

(10,723)

Payments of investment property under construction

13

(28,722)

(2,400)

Cash flow from investment activities

(33,802)

(13,123)

Finance activities

Proceeds from the issue of share capital

50,000

10,000

Redemption of shares

-

(50,000)

Dividends paid

(16,288)

(19,241)

Cash flow from finance activities

33,712

(59,241)

Net increase/(decrease) in cash and cash equivalents

12,901

(59,245)

Cash and cash equivalents at beginning of year

27,523

86,768