Consolidated statement of cash flows
for the year ended 30 June
| Notes | 2019 R’000 |
2018 *Re-presented R’000 |
|||||
| Cash flows from operating activities | 2 580 285 | 5 386 455 | |||||
|---|---|---|---|---|---|---|---|
| Cash generated by operations | 7 | 7 068 926 | 9 785 714 | ||||
| Finance income | 180 461 | 158 709 | |||||
| Finance charges | 9 | (1 227 517) | (1 197 508) | ||||
| Taxation paid | 10 | (1 422 308) | (1 297 155) | ||||
| Distributions to shareholders | 11 | (2 019 277) | (2 063 305) | ||||
| Cash effects of investment activities | (3 281 913) | (5 872 506) | |||||
| Amounts advanced to associates | (52 500) | – | |||||
| Proceeds on disposal of investments | 1 027 405 | 390 009 | |||||
| Investments acquired | (856 027) | (431 933) | |||||
| Additions to property, plant and equipment | (2 516 846) | (2 554 217) | |||||
| Additions to vehicle rental fleet | (1 002 221) | (1 035 398) | |||||
| Additions to intangible assets | (165 118) | (123 754) | |||||
| Proceeds on disposal of property, plant and equipment | 318 676 | 349 864 | |||||
| Proceeds on disposal of vehicle rental fleet | 758 887 | 1 108 643 | |||||
| Proceeds on disposal of intangible assets | 4 873 | 21 710 | |||||
| Acquisition of businesses, subsidiaries and associates | 12 | (1 344 920) | (3 272 999) | ||||
| Proceeds on disposal of interests in subsidiaries and associates, and disposal and closure of businesses | 13 | 545 878 | (324 431) | ||||
| Cash effects of financing activities | (766 609) | 253 211 | |||||
| Transactions with non-controlling interests | (757 645) | – | |||||
| Settlement of puttable non-controlling interest liabilities | (16 500) | – | |||||
| Borrowings raised | 8 | 3 124 004 | 3 669 023 | ||||
| Borrowings repaid | 8 | (3 116 468) | (3 415 812) | ||||
| Net decrease in cash and cash equivalents | (1 468 237) | (232 840) | |||||
| Cash and cash equivalents at beginning of year | 3 514 398 | 3 886 417 | |||||
| Cash and cash equivalents of the Bidvest Education Trust | – | 23 094 | |||||
| Cash and cash equivalents of disposal groups held for sale | – | (122 651) | |||||
| Effects of exchange rate fluctuations on cash and cash equivalents | (11 638) | (39 622) | |||||
| Cash and cash equivalents at end of year | 2 034 523 | 3 514 398 | |||||
| Cash and cash equivalents comprise | |||||||
| Cash and cash equivalents | 24 | 6 617 075 | 6 168 293 | ||||
| Bank overdrafts included in short-term portion of borrowings | 29 | (4 582 552) | (2 653 895) | ||||
| 2 034 523 | 3 514 398 |
| * | Refer to note 27 of the accounting policies. |