Statement of cash flows

    Note* 2018
$000
2017
$000

Cash flows from operating activities

     

Receipts

     

Sale of goods and services

  122,187 119,296

Interest received

  677 916

Other receipts

  1,190 1,219

Payments

     

Employee benefits

  (19,782) (19,973)

Supplies and services

  (24,579) (23,335)

Forest management expenditure

  (72,783) (74,901)

Net cash generated by operating activities

38.2 6,910 3,222
       

Cash flows from investing activities

     

Payments

     

Purchase of non-current physical assets

  (3,340) (6,077)

Purchase of intangible assets

  (305) (211)

Purchase of investments - Investment in new plantations

  (6,068) (5,849)
Net cash used in investing activities   (9,713)

(12,137)

       

Cash flows from / (to) State Government

     

Royalties for Regions Fund

  250 250

State Contribution (equity injection)

  1,300 2,100

Other grants and subsidies

  5,353 1,451
Dividends paid   (3,617)

(2,530)

Taxation equivalents   (1,278)

(561)

Net cash received from State Government   2,008

710

       
Net decrease in cash and cash equivalents   (795)

(8,205)

Cash and cash equivalents at the beginning of year   31,346

39,551

Cash and cash equivalents at the end of year 38.1 30,551

31,346

For the year ended 30 June 2018. The 'Statement of cash flows' should be read in conjunction with the accompanying notes.