Summarised consolidated statement of cash flows
for the year ended 30 June
| 2017 Audited R'000 |
2016 Audited R'000 |
||||||
|---|---|---|---|---|---|---|---|
| Cash flows from operating activities | 2 816 458 | 3 148 537 | |||||
| Operating profit | 6 877 150 | 4 430 125 | |||||
| Dividends from associates | 114 494 | 138 689 | |||||
| Acquisition costs | 24 230 | 8 416 | |||||
| Depreciation and amortisation | 1 641 568 | 1 586 940 | |||||
| Remeasurement to recoverable fair value of associates | (1 144 633) | 760 764 | |||||
| Other non-cash items | (265 154) | (187 742) | |||||
| Cash generated by operations before changes in working capital | 7 247 655 | 6 737 192 | |||||
| Changes in working capital | (367 886) | 296 577 | |||||
| Cash generated by operations | 6 879 769 | 7 033 769 | |||||
| Net finance charges paid | (1 030 415) | (851 371) | |||||
| Taxation paid | (1 373 927) | (1 191 426) | |||||
| Dividends paid by – Company | (1 529 585) | (3 149 552) | |||||
|
(129 384) | (128 194) | |||||
| Net operating cash flows from discontinued operations | – | 1 435 311 | |||||
| Cash effects of investment activities | (1 621 011) | (5 646 310) | |||||
| Net disposals (additions) to vehicle rental fleet | 107 399 | (77 995) | |||||
| Net additions to property, plant and equipment | (1 895 257) | (2 404 062) | |||||
| Net additions to intangible assets | (141 066) | (113 525) | |||||
| Net disposal (acquisition) of subsidiaries, businesses, associates and investments | 307 913 | (786 872) | |||||
| Net investing cash flows from discontinued operations | – | (2 263 856) | |||||
| Cash effects of financing activities | (21 223) | 1 577 560 | |||||
| Proceeds from shares issued | – | 82 506 | |||||
| Disposal of treasury shares | 274 229 | 1 265 277 | |||||
| Borrowings raised | 2 902 588 | 2 434 616 | |||||
| Borrowings repaid | (3 198 040) | (3 376 015) | |||||
| Net financing cash flows from discontinued operations | – | 1 171 176 | |||||
| Net increase (decrease) in cash and cash equivalents | 1 174 224 | (920 213) | |||||
| Net cash and cash equivalents at the beginning of the year | 2 706 226 | 5 818 512 | |||||
| Exchange rate adjustment from continuing operations | 5 967 | 9 686 | |||||
| Exchange rate adjustment from discontinued operations | – | 814 703 | |||||
| Cash disposed as part of Foodservices division unbundling | – | (3 016 462) | |||||
| Net cash and cash equivalents at end of the year | 3 886 417 | 2 706 226 | |||||
| Net cash and cash equivalents comprise: | |||||||
| Cash and cash equivalents | 5 132 550 | 3 911 927 | |||||
| Bank overdrafts shown as short-term portion of interest-bearing debt | (1 246 133) | (1 205 701) | |||||
| 3 886 417 | 2 706 226 | ||||||