Interim condensed consolidated statement of cash flows
| Download (EXCEL) |
| R’million | Unaudited six months ended 31 March 2018 |
Reclass* Unaudited six months ended 31 March 2017 |
Reclass* Audited year ended 30 September 2017 |
|---|---|---|---|
| Cash operating profit | 2 366,2 | 2 631,3 | 5 388,1 |
| Working capital changes | (894,4) | 475,4 | 745,4 |
| Cash generated from operations | 1 471,8 | 3 106,7 | 6 133,5 |
| Finance income and income from investments | 81,0 | 111,5 | 34,8 |
| Finance costs | (119,8) | (222,2) | (203,4) |
| Dividends received from associate companies | – | 203,9 | 350,2 |
| Taxation paid | (555,6) | (583,0) | (1 195,9) |
| Cash available from operations | 877,4 | 2 616,9 | 5 119,2 |
| Dividends paid | (1 193,7) | (1 182,1) | (1 834,1) |
| Net cash (outflow)/inflow from operating activities | (316,3) | 1 434,8 | 3 285,1 |
| Purchase of property, plant and equipment | (296,9) | (383,0) | (919,0) |
| Net cash on disposal of subsidiary | 103,5 | – | 23,8 |
| Proceeds from disposal of property, plant, equipment and intangible assets | 7,4 | 0,3 | 92,2 |
| Net cash outflow from investing activities | (186,0) | (382,7) | (803,0) |
| Net cash (outflow)/inflow before financing activities | (502,3) | 1 052,1 | 2 482,1 |
| Repurchase of Tiger Brands shares | (6,5) | – | – |
| Black Managers Trust (BMT) shares exercised | 15,0 | 19,5 | 24,0 |
| Shares exercised relating to equity-settled scheme | (41,6) | (74,4) | (77,8) |
| Reduction in non-controlling interest in empowerment shares | – | (22,4) | (22,4) |
| Long-term borrowings raised/(repaid) | – | 1,8 | (1 056,2) |
| Short-term borrowings raised/(repaid) | 8,4 | – | (7,2) |
| Net cash outflow from financing activities | (24,7) | (75,5) | (1 139,6) |
| Net (decrease)/increase in cash and cash equivalents | (527,0) | 976,6 | 1 342,5 |
| Effect of exchange rate changes on cash and cash equivalents | (60,4) | (21,3) | 18,8 |
| Cash and cash equivalents at the beginning of the period | 486,3 | (875,0) | (875,0) |
| Cash and cash equivalents at the end of the period | (101,1) | 80,3 | 486,3 |
| Cash resources | 1 108,8 | 1 206,2 | 1 221,4 |
| Short-term borrowings regarded as cash and cash equivalents | (1 209,9) | (1 125,9) | (735,1) |
| (101,1) | 80,3 | 486,3 |
| * | For the 2018 interim reporting, the group has reviewed the JSE Report on the Proactive Monitoring of Financial Statements issued in February 2018. As a consequence of this review the group has restated its cash flow treatment relating to equity-settled share option schemes as financing activities. The presentation of comparative figures has therefore been adjusted to conform to the presentation of the current period. The cash flow related to equity-settled share schemes (March 2017: R74,4 million and September 2017: R77,8 million) has been reclassified out of operating activities and proceeds from BMT shares exercised (March 2017: R19,5 million and September 2017: R24,0 million) has been reclassified from investing activities. |