2023 | 2022 | ||
|---|---|---|---|
Note | $’000 | $’000 | |
Cash flows from operating activities | |||
Receipts from customers | 463,654 | 124,095 | |
Receipts in relation to R&D tax incentive | - | 18,909 | |
Payments to suppliers and employees | (414,079) | (204,289) | |
Payments for contingent consideration | (16,282) | - | |
Income taxes paid | (10,253) | (2,278) | |
Interest received | 1,629 | 1 | |
Interest paid | (785) | (408) | |
Net cash generated from/(used in) operating activities | 23,884 | (63,970) | |
Cash flows from investing activities | |||
Payments for investments in financial assets | (13,155) | - | |
Payments for acquisition of subsidiary, net of cash acquired | - | (973) | |
Purchases of intangible assets | (1,115) | (6,823) | |
Payments for contingent consideration | (1,484) | - | |
Purchases of property, plant and equipment | (9,679) | (7,038) | |
Payments for decommissioning liability | (56) | (2,163) | |
Net cash used in investing activities | (25,489) | (16,997) | |
Cash flows from financing activities | |||
Proceeds from borrowings | 5,756 | 3,014 | |
Repayment of borrowings | - | (13) | |
Principal element of lease payments | (2,222) | (1,264) | |
Proceeds from issue of shares and other equity | 6,652 | 181,039 | |
Transaction costs of capital raising | - | (7,816) | |
Net cash provided by financing activities | 10,186 | 174,960 | |
Net increase in cash held | 8,581 | 93,993 | |
Net foreign exchange differences | (1,673) | 299 | |
Cash and cash equivalents at the beginning of the financial year | 116,329 | 22,037 | |
Cash and cash equivalents at the end of the financial year | 123,237 | 116,329 |
The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.