ELECTRICAL AND MECHANICAL SERVICES TRADING FUND
CASH FLOW STATEMENT
For the year ended 31 March 1998

		Year ended 31 March 1998 $000		Eight months ended 31March 1998 $000
Operating Activities
Operating profit before interest		302,680		192,572
Depreciation		26,384		17,021
Loss on disposal of fixed assets		257		-
(Decrease)/Increase in creditors		(53,997)		455,372
Increase in customers deposits		94,851		43,444
Increase in deferred revenue		17,950		22,506
Decrease/(Increase)in debtors		111,659		(334,052)
Decrease/(Increase)in stocks and work in progress		9,669		(139,009)
Net cash inflow		509,453		257,854
Interest Income and Servicing of Finance
Interest received		34,396		7,834
Interest paid		(32,001)		-
Dividend paid		(44,735)		-
Taxation paid		(30,704)		(1,668)
Net cash inflow/(outflow)		(73,044)		6,166
Investing Activities
Net (increase) in placements with banks (other than cash equivalents)		(111,000)		-
Net cash (outflow)		(111,000)		-
Capital Expenditure
Acquisition of fixed assets		(3,757)		(2,759)
Net Cash (outflow)		(3,757)		(2759)
Capital Receipts
Loan from the Capital Investment Fund		-		105,000
Loan repayments		(135,280)		-
Net cash (outflow)/inflow		(135,280)		105,000
Total net cash inflow for year		186,372		366,261
Cash and cash equivalents at beginning of year		366,261		-
Cash and cash aquivalents at the year (note 18)		552,633		366,261