Summarised consolidated statement of cash flows

for the

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      Year ended
30 June
 
 
R000s    2021 
Audited 
2020 
Audited 
 
Cash flows from operating activities    9 743 709  4 258 631   
  Profit before finance charges and associate income    7 160 141  2 818 830   
  Dividends from associates    97 767  123 910   
  Acquisition costs    33 509  178 179   
  Depreciation and amortisation    3 639 341  2 947 695   
  Share-based payment expense    224 666  216 348   
  Impairments of associates    77 448  523 279   
  Impairment of goodwill and intangibles    44 395  818 974   
  Impairment of property, plant and equipment and right-of-use assets    36 026  367 608   
  Fair value adjustment to investments    68 384  108 598   
  Other non-cash items    (130 945) 201 858   
  Cash generated by operations before changes in working capital    11 250 732  8 305 279   
  Changes in working capital    2 394 336  874 428   
    Decrease (increase) in inventories    918 156  (740 413)  
    (Increase) decrease in trade receivables    (436 212) 2 623 679   
    Decrease (increase) in banking and other advances    198 852  (449 541)  
    Increase (decrease) in trade and other payables and provisions    1 373 632  (1 438 571)  
    Increase in amounts owed to bank depositors    339 908  879 274   
    Cash generated by operations    13 645 068  9 179 707   
    Net finance charges paid    (1 411 645) (1 432 054)  
    Taxation paid    (1 814 274) (1 454 119)  
    Dividends paid by the Company    (985 674) (2 033 951)  
    Dividends paid by subsidiaries    (83 059) (233 613)  
    –  Non-controlling shareholders    (80 024) (229 818)  
    –  Put-call option holders    (3 035) (3 795)  
    Net operating cash flows from discontinued operations    393 293  232 661   
Cash flows from investment activities    (1 786 944) (3 319 199)  
    Net additions to property, plant and equipment    (1 916 901) (1 678 051)  
    Net additions to intangible assets    (324 156) (141 409)  
    Net cash and cash equivalents arising on consolidation of Adcock Ingram    –  467 913   
    Acquisition of subsidiaries, businesses, associates and investments    (3 935 212) (5 329 003)  
    Disposal of subsidiaries, businesses, associates and investments    2 949 139  4 014 367   
    Net investing cash flows from discontinued operations    1 440 186  (653 016)  
Cash flows from financing activities    (7 083 290) 2 041 278   
    Repayment of lease liabilities    (1 294 769) (1 017 544)  
    Settlement of puttable non-controlling interest liability    –  (57 050)  
    Transactions with non-controlling interests    (481 410) (200 650)  
    Part held subsidiary share buy-back from non-controlling interest    –  (154 056)  
    Borrowings raised    5 424 273  19 954 763   
    Borrowings repaid    (10 372 402) (16 774 408)  
    Net financing cash flows from discontinued operations    (358 982) 290 223   
Net increase in cash and cash equivalents    873 475  2 980 710   
Net cash and cash equivalents at the beginning of the year    5 343 865  2 034 523   
Exchange rate adjustment    (399 211) 328 632   
Net cash and cash equivalents at end of the year    5 818 129  5 343 865   
Net cash and cash equivalents comprise:         
Cash and cash equivalents – continuing operations    7 438 073  10 412 475   
Cash and cash equivalents – discontinued operations    –  (746 561)  
Bank overdrafts included in short-term portion of interest bearing borrowings    (1 619 944) (4 322 049)  
    5 818 129  5 343 865