| |
Audited |
| R million |
2007 |
2006 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Operating cash flows before movements in working capital |
6 370 |
6 077 |
| Increase in working capital |
(531) |
(10) |
| Cash generated from operations |
5 839 |
6 067 |
| Finance costs |
(902) |
(630) |
| Realised fair value adjustments on financial instruments |
(16) |
136 |
| Dividends received from investments and associates |
41 |
104 |
| Interest received |
338 |
261 |
| Taxation paid |
(1 412) |
(1 007) |
| Cash flow from operations |
3 888 |
4 931 |
| Cash flow from operations – continuing operations |
2 636 |
2 533 |
| Cash flow from operations – discontinued operations |
1 252 |
2 398 |
| Dividends paid (including minority shareholders) |
(2 629) |
(1 295) |
| Cash retained from operating activities |
1 259 |
3 636 |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Acquisition of subsidiaries, investments and intangibles |
(349) |
(814) |
| Proceeds on disposal of subsidiaries, investments and intangibles |
1 432 |
44 |
| Net investment in fleet leasing and rental assets |
(2 283) |
(2 108) |
| Acquisition of other property, plant and equipment |
(1 485) |
(1 217) |
| Replacement capital expenditure |
(451) |
(508) |
| Expansion capital expenditure |
(1 034) |
(709) |
| Proceeds on disposal of property, plant and equipment |
121 |
593 |
| Proceeds on sale of leasing assets |
1 684 |
564 |
| Net cash used in investing activities |
(880) |
(2 938) |
| Net cash inflow before financing activities |
379 |
698 |
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds on share issue |
139 |
90 |
| Buy-back of shares in company |
|
(1 160) |
| Proceeds from long-term borrowings |
1 376 |
1 742 |
| Repayment of long-term borrowings |
(3 207) |
(1 903) |
| Increase in short-term interest-bearing liabilities |
704 |
1 007 |
| Net cash used in financing activities |
(988) |
(224) |
| Net (decrease)/increase in cash and cash equivalents |
(609) |
474 |
| Cash and cash equivalents at beginning of year |
2 134 |
1 399 |
| Effect of foreign exchange rate movement on cash balance |
(6) |
242 |
| Effect of cash balances classified as held for sale |
|
19 |
| Effect of cash balance on unbundling Pretoria Portland Cement |
(318) |
|
| Cash and cash equivalents at end of year |
1 201 |
2 134 |
| Cash balances not available for use due to reserving restrictions |
235 |
405 |
| Acquisition of subsidiaries, investments and intangibles: |
|
|
| Inventories acquired |
|
57 |
| Receivables acquired |
|
226 |
| Payables, taxation and deferred taxation acquired |
|
(230) |
| Borrowings net of cash |
|
(512) |
| Property, plant and equipment, non-current assets, goodwill and minority shareholders |
|
744 |
| Total net assets acquired |
|
285 |
| Goodwill arising on acquisitions |
|
238 |
| Net cash cost of subsidiaries acquired |
|
523 |
| Investments and intangible assets acquired |
349 |
291 |
| Cash amounts paid to acquire subsidiaries, investments and intangibles |
349 |
814 |
| Bank balances and cash in subsidiaries acquired |
|
12 |
