McConnell Dowell 2019 Annual Review

68 McConnell Dowell Group All figures are in A$ 000’s Note 2019 2018 8. Trade and other receivables (continued) 8(c) Construction work in progress Total work in progress 8(d) 98,709 135,988 Total progress billings in advance 15 (65,142) (108,350) Net construction work in progress 33,567 27,638 8(d) Amounts due from contract customers includes $83.5 million (2018: $93.0million), which is currently subject to formal contract dispute processes. As at 30 June 2019, the Group has amounts due from customers of $98.7 million (2018: $136 million) which is net of the provision for expected credit loss which is immaterial to the Group. 9. Statement of cash flows reconciliation (i) Reconciliation of cash Cash at the end of the financial period as shown in the statement of cash flows is reconciled to the related items in the statement of financial position as follows: Cash at bank 67,663 108,059 Cash in joint operations 35,086 33,566 Cash on hand 9a 94 137 Total cash and cash equivalents 102,843 141,762 9(a) Cash assets held in joint operations are available for use by the Group with the approval of the joint operation partners (ii) Reconciliation of net cash flows from operating activities to operating profit after tax Net profit / (loss) after tax from continuing operations 7,785 7,976 Depreciation & impairment of property, plant & equipment 12,440 13,028 Share of associated companies (profits) / losses 3,656 636 Effect of foreign exchange movements (3,657) 5,393 Net gain on disposal of fixed assets (3,382) (7,599) (Increase) / decrease in receivables & other assets 27,390 60,704 (Increase) / decrease in inventory (2,079) (1,022) (Increase) / decrease in deferred tax (assets) / liability (342) 40 Increase / (decrease) in trade & other payables (73,967) (8,094) Increase / (decrease) in provisions 65 (37,942) Increase / (decrease) in income tax payable (526) (936) Net cash inflow / (outflow) from operating activities (32,617) 32,184 Consolidated Financial Statements 2019 Notes to the annual financial statements (continued) for the year ended 30 June 2019