At 30 June 2014, the Group has a net deficiency of
current assets to current liabilities of $248.6m (2013:
nil). This deficiency is largely due to a $300m Bond
maturing in December 2014. Notwithstanding this
deficiency, the Directors remain confident that the
Group will be able to meet its debts as and when they
fall due. The Directors are of the opinion that the
financial statements are appropriately prepared on a
going concern basis having regard to the following:
As at 30 June 2014
•
•
The Group has net assets of $3,568.4m
(2013: $3,459.3m).
•
•
The Group generated cash from operating
activities of $380.9m (2013: $240.6m).
•
•
The Group expects to continue to generate
positive cash flows from operating activities in the
next twelve months.
•
•
The Group has $335m of unutilised funds available
through a Syndicated Debt Facility Agreement (as
detailed in note 12).
•
•
The Group has $300m of unutilised funds available
through a Bridging Facility (as detailed in note 12).
•
•
The Group engages in active financial risk
management and an established debit capital
market programme which are subject to ongoing
governance at Committee and Board level (as
detailed in note 12).
NOTE 01
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
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