Condensed consolidated statement of cash flows
for the half-year ended 31 December 2018
View as excel [XLS – 40KB]
| R'000 | Half-year ended 31 December 2018 Unaudited |
Half-year ended 31 December 2017 Unaudited |
Year ended 30 June 2018 Audited |
|||||||||
| Cash flows from operating activities | (1 148 199) | 1 139 588 | 4 968 427 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating profit | 3 333 747 | 2 995 470 | 5 919 211 | |||||||||
| Dividends from associates | 78 480 | 103 149 | 206 725 | |||||||||
| Acquisition costs | 3 222 | 48 715 | 50 190 | |||||||||
| Depreciation and amortisation | 869 662 | 883 335 | 1 680 638 | |||||||||
| Remeasurement to recoverable fair value of associates | (100 618) | 59 144 | 248 709 | |||||||||
| Other cash and non-cash items | (66 819) | (205 664) | (261 045) | |||||||||
| Cash generated by operations before changes in working capital | 4 117 674 | 3 884 149 | 7 844 428 | |||||||||
| Changes in working capital | (3 070 622) | (631 281) | 1 523 258 | |||||||||
| (Increase) decrease in inventories | (542 349) | (316 284) | 45 270 | |||||||||
| Decrease (increase) in trade receivables | 427 222 | (113 617) | (776 913) | |||||||||
| Increase in banking and other advances | (421 215) | (64 033) | (421 236) | |||||||||
| (Decrease) increase in trade and other payables and provisions | (2 436 652) | (857 311) | 1 467 099 | |||||||||
| (Decrease) increase in amounts owed to bank depositors | (97 628) | 719 964 | 1 209 038 | |||||||||
| Cash generated by operations | 1 047 052 | 3 252 868 | 9 367 686 | |||||||||
| Net finance charges paid | (506 655) | (517 315) | (1 038 799) | |||||||||
| Taxation paid | (636 556) | (555 444) | (1 297 155) | |||||||||
| Dividends paid by the Company | (1 013 685) | (884 649) | (1 740 197) | |||||||||
| Dividends paid by subsidiaries | (38 355) | (155 872) | (323 108) | |||||||||
| – Non-controlling shareholders | (36 465) | (155 872) | (319 984) | |||||||||
| – Put-call option holders | (1 890) | – | (3 124) | |||||||||
| Cash effects of investment activities | (1 376 423) | (4 913 559) | (5 872 506) | |||||||||
| Net (acquisition) disposal of vehicle rental fleet | (331 477) | (427 843) | 73 245 | |||||||||
| Net additions to property, plant and equipment | (1 172 149) | (1 033 230) | (2 204 353) | |||||||||
| Net additions to intangible assets | (53 924) | (27 167) | (102 044) | |||||||||
| Net disposal (acquisition) of subsidiaries, businesses, associates and investments | 181 127 | (3 425 319) | (3 639 354) | |||||||||
| Cash effects of financing activities | 411 153 | 717 447 | 671 239 | |||||||||
| Proceeds from shares issued (net of costs) | 59 268 | 218 339 | 418 028 | |||||||||
| Settlement of puttable non-controlling interest liability | (16 500) | – | – | |||||||||
| Net borrowings raised | 368 385 | 499 108 | 253 211 | |||||||||
| Net decrease in cash and cash equivalents | (2 113 469) | (3 056 524) | (232 840) | |||||||||
| Net cash and cash equivalents at the beginning of the period | 3 514 398 | 3 886 417 | 3 886 417 | |||||||||
| Net cash and cash equivalents arising on consolidation of the Bidvest | ||||||||||||
| Education Trust | – | – | 23 094 | |||||||||
| Net cash and cash equivalents of disposal groups held for sale | – | – | (122 651) | |||||||||
| Exchange rate adjustment | 13 835 | (22 695) | (39 622) | |||||||||
| Net cash and cash equivalents at end of the period | 1 414 764 | 807 198 | 3 514 398 | |||||||||
| Net cash and cash equivalents comprise: | ||||||||||||
| Cash and cash equivalents | 5 221 027 | 4 710 829 | 6 168 293 | |||||||||
| Bank overdrafts included in short-term portion of interest-bearing borrowings | (3 806 263) | (3 903 631) | (2 653 895) | |||||||||
| 1 414 764 | 807 198 | 3 514 398 | ||||||||||