Notes to the cash flow statements
FOR THE YEAR ENDED 31 DECEMBER 2007
|
|
......GROUP |
|
......COMPANY |
|
|
2007 |
|
2006 |
|
2007 |
|
2006 |
|
|
R millions |
|
R millions |
|
R millions |
|
R millions |
|
|
|
|
|
|
|
|
|
i. |
CASH GENERATED BY OPERATIONS |
|
|
|
|
|
|
|
|
Profit from continuing operations |
757 |
|
1 048 |
|
153 |
|
401 |
|
Profit from discontinued operations |
50 |
|
54 |
|
70 |
|
34 |
|
Profit from operations |
807 |
|
1 102 |
|
223 |
|
435 |
|
Adjusted for non-cash movements: |
|
|
|
|
|
|
|
|
Depreciation and amortisation |
233 |
|
223 |
|
97 |
|
98 |
|
Impairments |
(9) |
|
— |
|
(22) |
|
36 |
|
Non-current provisions |
123 |
|
85 |
|
111 |
|
62 |
|
Surplus on disposal of property, plant and equipment |
(19) |
|
(8) |
|
(2) |
|
(2) |
|
Surplus on disposal of listed investments |
(4) |
|
(3) |
|
— |
|
— |
|
Change in fair value of investments |
(9) |
|
(17) |
|
— |
|
— |
|
Other |
— |
|
3 |
|
— |
|
3 |
|
|
1 122 |
|
1 385 |
|
407 |
|
632 |
ii. |
TAXES PAID |
|
|
|
|
|
|
|
|
Owing at the beginning of the year |
99 |
|
118 |
|
1 |
|
5 |
|
Current charge for the year |
271 |
|
177 |
|
112 |
|
10 |
|
Changes in the Group |
1 |
|
6 |
|
- |
|
— |
|
Owing at the end of the year |
(175) |
|
(99) |
|
(109) |
|
(1) |
|
|
196 |
|
202 |
|
4 |
|
14 |
iii. |
CHANGES IN WORKING CAPITAL |
|
|
|
|
|
|
|
|
Decrease/(increase) in inventories |
120 |
|
(355) |
|
330 |
|
(197) |
|
Decrease/(increase) in accounts receivable |
218 |
|
(464) |
|
292 |
|
(339) |
|
(Decrease)/increase in accounts payable |
(352) |
|
476 |
|
(389) |
|
308 |
|
|
(14) |
|
(343) |
|
233 |
|
(228) |
|
Translation differences |
2 |
|
10 |
|
5 |
|
11 |
|
Classified as held for sale |
(314) |
|
— |
|
(263) |
|
— |
|
Changes in the Group |
(275) |
|
74 |
|
(267) |
|
34 |
|
|
(601) |
|
(259) |
|
(292) |
|
(183) |
iv. |
CHANGES IN THE GROUP |
|
|
|
|
|
|
|
|
Property, plant and equipment |
(56) |
|
35 |
|
(74) |
|
9 |
|
Investments |
(3) |
|
— |
|
(22) |
|
— |
|
Working capital |
(275) |
|
74 |
|
(267) |
|
34 |
|
Deferred and current tax |
(1) |
|
(6) |
|
— |
|
— |
|
Borrowings |
(6) |
|
(9) |
|
* |
|
(13) |
|
Minority interest |
3 |
|
(13) |
|
— |
|
— |
|
Non-distributable reserves |
(4) |
|
— |
|
— |
|
— |
|
Post-acquisition retained earnings |
20 |
|
— |
|
— |
|
— |
|
Net surplus on disposal of investments and businesses |
(382) |
|
— |
|
(341) |
|
— |
|
Goodwill |
(9) |
|
105 |
|
(6) |
|
76 |
|
Net cash (inflow)/outflow |
(713) |
|
186 |
|
(710) |
|
106 |
|
Disposal of businesses and subsidiaries |
(771) |
|
— |
|
(734) |
|
(20) |
|
Proceeds on disposal of discontinued operations |
(767) |
|
— |
|
(720) |
|
— |
|
(see note 23) |
|
|
|
|
|
|
|
|
Cash costs of disposals (see note 23) |
6 |
|
— |
|
6 |
|
— |
|
Proceeds on disposal of other businesses |
(10) |
|
— |
|
(20) |
|
(20) |
|
Acquisition of businesses and subsidiaries (see note 33) |
58 |
|
186 |
|
24 |
|
126 |
|
Net consideration paid to acquire subsidiaries |
49 |
|
55 |
|
1 |
|
— |
|
Consideration paid to acquire businesses |
9 |
|
131 |
|
23 |
|
126 |
| |
|
|
|
|
|
|
|
|
|
|
(713) |
|
186 |
|
(710) |
|
106 |
* Nominal amount.
|
