Notes to the cash flow statements
for the year ended 31 December 2008
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GROUP |
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COMPANY |
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|
2008 |
|
2007 |
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|
2008 |
|
2007 |
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|
R millions |
R millions |
|
|
R millions |
|
R millions |
|
| i. |
CASH GENERATED BY OPERATIONS |
|
|
|
|
|
|
|
|
|
| |
Profit from continuing operations |
1 035 |
|
747 |
|
|
251 |
|
92 |
|
| |
Profit from discontinued operations |
155 |
|
60 |
|
|
114 |
|
70 |
|
| |
Profit from operations |
1 190 |
|
807 |
|
|
365 |
|
162 |
|
| |
Adjusted for non-cash movements: |
|
|
|
|
|
|
|
|
|
| |
Depreciation and amortisation |
216 |
|
233 |
|
|
50 |
|
97 |
|
| |
Impairments of loans to subsidiaries |
– |
|
– |
|
|
33 |
|
48 |
|
| |
Non-current provisions |
199 |
|
123 |
|
|
169 |
|
111 |
|
| |
Surplus on disposal of property, plant and equipment |
(38) |
|
(2) |
|
|
(4) |
|
(2) |
|
| |
Surplus on disposal of listed investments |
(10) |
|
(4) |
|
|
– |
|
– |
|
| |
Change in fair value of investments |
33 |
|
(9) |
|
|
– |
|
– |
|
|
|
1 590 |
|
1 148 |
|
|
613 |
|
416 |
|
| ii. |
INCOME TAX PAID |
|
|
|
|
|
|
|
|
|
| |
Owing at the beginning of the year |
(175) |
|
(99) |
|
|
(109) |
|
(1) |
|
| |
Current charge for the year |
(371) |
|
(271) |
|
|
(115) |
|
(112) |
|
| |
Changes in the Group |
– |
|
1 |
|
|
– |
|
– |
|
| |
Owing at the end of the year |
314 |
|
175 |
|
|
135 |
|
109 |
|
|
|
(232) |
|
(196) |
|
|
(89) |
|
(4) |
|
| iii. |
CHANGES IN WORKING CAPITAL |
|
|
|
|
|
|
|
|
|
| |
(Increase)/decrease in inventories |
(1 215) |
|
120 |
|
|
(518) |
|
330 |
|
| |
(Increase)/decrease in accounts receivable |
(1 164) |
|
218 |
|
|
(634) |
|
292 |
|
| |
Increase/(decrease) in accounts payable |
1 162 |
|
(352) |
|
|
500 |
|
(389) |
|
| |
|
(1 217) |
|
(14) |
|
|
(652) |
|
233 |
|
| |
Translation differences |
17 |
|
2 |
|
|
(22) |
|
5 |
|
| |
Impairments |
(37) |
|
(9) |
|
|
(37) |
|
(9) |
|
| |
Classified from/(to) held for sale |
314 |
|
(314) |
|
|
263 |
|
(263) |
|
| |
Changes in the Group |
2 |
|
(292) |
|
|
(17) |
|
(267) |
|
|
|
(921) |
|
(627) |
|
|
(465) |
|
(301) |
|
| iv. |
CHANGES IN THE GROUP |
|
|
|
|
|
|
|
|
|
| |
Property, plant and equipment |
(17) |
|
(39) |
|
|
– |
|
(74) |
|
| |
Investments |
– |
|
(3) |
|
|
– |
|
(22) |
|
| |
Working capital |
2 |
|
(292) |
|
|
(17) |
|
(267) |
|
| |
Deferred and current tax |
– |
|
(1) |
|
|
– |
|
– |
|
| |
Borrowings |
– |
|
(6) |
|
|
– |
|
* |
|
| |
Minority interest |
24 |
|
3 |
|
|
– |
|
– |
|
| |
Non-distributable reserves |
(15) |
|
(4) |
|
|
– |
|
– |
|
| |
Post-acquisition retained earnings |
– |
|
20 |
|
|
– |
|
– |
|
| |
Net loss/(surplus) on disposal of investments and businesses |
17 |
|
(382) |
|
|
17 |
|
(341) |
|
| |
Goodwill |
57 |
|
(9) |
|
|
– |
|
(6) |
|
| |
Net cash outflow/(inflow) |
68 |
|
(713) |
|
|
– |
|
(710) |
|
| |
Disposal of businesses and subsidiaries |
(10) |
|
(771) |
|
|
– |
|
(734) |
|
| |
Proceeds on disposal of discontinued operations (see note 22) |
– |
|
(767) |
|
|
– |
|
(720) |
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| |
Cash costs of disposals (see note 22) |
– |
|
6 |
|
|
– |
|
6 |
|
| |
Proceeds on disposal of other businesses and subsidiaries |
(10) |
|
(10) |
|
|
– |
|
(20) |
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| |
Acquisition of businesses and subsidiaries (see note 32) |
78 |
|
58 |
|
|
– |
|
24 |
|
| |
Net consideration paid to acquire subsidiaries |
64 |
|
49 |
|
|
– |
|
1 |
|
| |
Net consideration paid to acquire businesses |
14 |
|
9 |
|
|
– |
|
23 |
|
| |
|
|
|
|
|
|
|
|
|
|
| |
|
68 |
|
(713) |
|
|
– |
|
(710) |
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|
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