Interim condensed consolidated statement of cash flows
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| R'million | Unaudited six months ended 31 March 2019 |
Unaudited six months ended 31 March 2018 |
Audited year ended 30 September 2018 |
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| Cash operating profit | 1 871,5 | 2 366,2 | 3 857,4 | ||
|---|---|---|---|---|---|
| Working capital changes | (515,8) | (894,4) | (573,2) | ||
| Cash generated from operations | 1 355,7 | 1 471,8 | 3 284,2 | ||
| Finance income and income from investments | 56,8 | 81,0 | 35,1 | ||
| Finance costs | (84,4) | (119,8) | (114,1) | ||
| Dividends received from associate companies | 176,1 | – | 178,5 | ||
| Taxation paid | (550,7) | (555,6) | (780,6) | ||
| Cash available from operations | 953,5 | 877,4 | 2 603,1 | ||
| Dividends paid | (1 193,2) | (1 193,7) | (1 854,5) | ||
| Net cash (outflow)/inflow from operating activities | (239,7) | (316,3) | 748,6 | ||
| Purchase of property, plant and equipment | (361,2) | (296,9) | (719,6) | ||
| Proceeds on sale of investment in associate | 581,4 | – | – | ||
| Proceeds from insurance claims | – | – | 11,7 | ||
| Net cash on disposal of subsidiary | 255,9* | 103,5 | 103,4 | ||
| Proceeds from disposal of property, plant, equipment and intangible assets | – | 7,4 | 5,6 | ||
| Net cash inflow/(outflow) from investing activities | 476,1 | (186,0) | (598,9) | ||
| Net cash inflow/(outflow) before financing activities | 236,4 | (502,3) | 149,7 | ||
| Black Managers Trust (BMT) shares exercised | 3,4 | 15,0 | 17,9 | ||
| Shares exercised relating to equity-settled scheme | (25,9) | (41,6) | (46,6) | ||
| Repurchase of Tiger Brands shares | – | (6,5) | (6,5) | ||
| Long-term borrowings (repaid)/raised | (2,1) | – | 86,3 | ||
| Short-term borrowings raised/(repaid) | 32,3 | 8,4 | (52,9) | ||
| Net cash inflow/(outflow) from financing activities | 7,7 | (24,7) | (1,8) | ||
| Net increase/(decrease) in cash and cash equivalents | 244,1 | (527,0) | 147,9 | ||
| Effect of exchange rate changes on cash and cash equivalents | (24,7) | (60,4) | 35,0 | ||
| Cash and cash equivalents at the beginning of the period | 669,2 | 486,3 | 486,3 | ||
| Cash and cash equivalents at the end of the period | 888,6 | (101,1) | 669,2 | ||
| Cash resources | 888,6 | 1 108,8 | 1 581,1 | ||
| Short-term borrowings regarded as cash and cash equivalents | – | (1 209,9) | (911,9) | ||
| 888,6 | (101,1) | 669,2 |
| * | The second tranche received from East African Group (EAG) on the sale of East African Tiger Brands Industries Plc. (EATBI) in 2017. |