Annual Report 2021

ANNUAL REPORT 2021 187 38. INFORMATION OF THE CONSOLIDATED STATEMENT OF CASH FLOWS (a) Reconciliation of operating profit to net cash inflow from operations: 2021 2020 HK$’million HK$’million Earnings before finance costs, net, taxation and share of profits less losses of associates and joint ventures 4,787 4,225 Adjustments for: Depreciation and amortisation 2,286 2,033 Net changes in fair value of investment properties (21) (149) Net changes in fair value of financial assets at FVTPL 30 (256) Net changes in fair value of financial liabilities at FVTPL 575 765 Impairment loss recognised in respect of goodwill — 621 Net allowance for credit losses of trade debtors and other debtors 291 510 Gain on resumption of land parcels at Shantou — (1,722) (Gain)/loss on disposal of property, plant and equipment (10) 120 Gain on discontinuance of equity accounting for a joint venture — (960) Gain on deemed disposal of a subsidiary (17) — Net gain on deemed disposal of partial interest in associates (454) — Gain on modification of contract terms for a concession arrangement (944) — Operating profit before working capital changes 6,523 5,187 Increase in inventories (18) (51) (Increase)/decrease in debtors, deposits and prepayments (247) 163 Increase/(decrease) in creditors and accruals 293 (763) Net cash inflow from operations 6,551 4,536