Condensed consolidated statement of cash flows

for the

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       Half-year ended
31 December
 
   Year ended 
30 June 
 
R000s  2020 
Unaudited 
2019 
Unaudited 
     2020 
Audited 
 
Cash flows from operating activities  4 443 194  1 001 318       4 258 631   
  Profit before finance charges and associate income  3 669 620  3 470 000       2 818 830   
  Dividends from associates  55 282  58 836       123 910   
  Acquisition costs  7 580  16 465       178 179   
  Depreciation and amortisation  1 824 076  1 459 835       2 947 695   
  Share-based payment expense  113 946  116 804       216 348   
  Impairments of associates  36 147  135 356       523 279   
  Impairment of goodwill and intangibles  –  –       818 974   
  Impairment of property, plant and equipment and right-of-use assets  –  –       367 608   
  Fair value adjustment to investments  86 933  (24 031)      108 598   
  Other non-cash items  57 982  102 583       201 858   
  Cash generated by operations before changes in working capital  5 851 566  5 335 848       8 305 279   
  Changes in working capital  335 804  (2 012 697)      874 428   
    Decrease (increase) in inventories  897 914  (398 846)      (740 413)  
    (Increase) decrease in trade receivables  (330 062) 1 197 801       2 623 679   
    Decrease (increase) in banking and other advances  3 187  (337 617)      (449 541)  
    Decrease in trade and other payables and provisions  (566 618) (2 996 357)      (1 438 571)  
    Increase in amounts owed to bank depositors  331 384  522 322       879 274   
  Cash generated by operations  6 187 370  3 323 151       9 179 707   
  Net finance charges paid  (708 919) (654 160)      (1 432 054)  
  Taxation paid  (645 822) (852 052)      (1 454 119)  
  Dividends paid by the Company  –  (1 076 055)      (2 033 951)  
  Dividends paid by subsidiaries  (7 245) (126 951)      (233 613)  
    – Non-controlling shareholders  (5 727) (126 951)      (229 818)  
    – Put-call option holders  (1 518) –       (3 795)  
  Net operating activities from discontinued operations  (382 190) 387 385       232 661   
Cash effects of investment activities  (766 045) (2 385 892)      (3 319 199)  
  Net additions to property, plant and equipment  (1 038 041) (911 208)      (1 678 051)  
  Net additions to intangible assets  (91 732) (74 876)      (141 409)  
  Net cash and cash equivalents arising on consolidation of Adcock Ingram  –  467 913       467 913   
  Net acquisition of subsidiaries, businesses, associates and investments  (237 201) (1 217 154)      (1 314 636)  
  Net investing activities from discontinued operations  600 929  (650 567)      (653 016)  
Cash effects of financing activities  (3 396 262) 1 617 223       2 041 278   
  Repayment of lease liabilities  (627 291) (523 964)      (1 017 544)  
  Settlement of puttable non-controlling interest liability  –  (57 050)      (57 050)  
  Transactions with non-controlling interests  (177 411) (176 765)      (200 650)  
  Part held subsidiary share buy-back from non-controlling interest  –  –       (154 056)  
  Net borrowings (repaid) raised  (2 497 719) 2 402 216       3 180 355   
  Net financing activities from discontinued operations  (93 841) (27 214)      290 223   
Net increase in cash and cash equivalents  280 887  232 649       2 980 710   
Net cash and cash equivalents at the beginning of the period  5 343 865  2 034 523       2 034 523   
Exchange rate adjustment  (233 061) (7 733)      328 632   
Net cash and cash equivalents at end of the period  5 391 691  2 259 439       5 343 865   
Net cash and cash equivalents comprise:                 
Cash and cash equivalents – continuing operations  10 092 014  6 944 710       10 412 475   
Cash and cash equivalents – discontinued operations  (623 828) –       (746 561)  
Bank overdrafts included in short-term portion of interest bearing borrowings  (4 076 495) (4 685 271)      (4 322 049)  
       5 391 691  2 259 439       5 343 865