Notes
to cash flow statements
Lfor the year ended 30 September 2005
| Group | Company | |||||||||
| 2005 | 2004 | 2005 | 2004 | |||||||
| Rm | Rm | Rm | Rm | |||||||
| A. | RECONCILIATION OF NET PROFIT BEFORE | |||||||||
| TAXATION TO CASH GENERATED FROM | ||||||||||
| OPERATIONS BEFORE WORKING | ||||||||||
| CAPITAL CHANGES | ||||||||||
| Profit before taxation | 959,6 | 771,6 | 702,9 | 704,1 | ||||||
| Adjusted for: | ||||||||||
| – | Net interest received | (37,4) | (37,7) | (18,2) | (18,6) | |||||
| – | Dividends received | (12,8) | (27,4) | (307,4) | (394,5) | |||||
| – | Depreciation and impairments of property, plant and | |||||||||
| equipment and amortisation of intangible assets | 56,3 | 57,9 | 24,6 | 17,6 | ||||||
| – | Amortisation of goodwill | 53,5 | 6,7 | |||||||
| – | Loss / (surplus) on disposal of property, plant | |||||||||
| and equipment | 0,2 | (0,6) | (0,1) | (0,4) | ||||||
| – | Abnormal items | (3,9) | (6,0) | 41,8 | 19,1 | |||||
| – | Share option expense | 6,7 | – | 6,7 | – | |||||
| – | Powerhouse option expense | 24,1 | ||||||||
| – | Other non-cash movements | (3,2) | (5,2) | 7,4 | (0,7) | |||||
| Cash generated from operations | ||||||||||
| before working capital changes | 989,6 | 806,1 | 457,7 | 333,3 | ||||||
| B. | WORKING CAPITAL CHANGES | |||||||||
| – | Inventory and contracts in progress | (65,8) | 50,0 | (30,2) | 43,0 | |||||
| – | Accounts receivable | (68,6) | (85,4) | (22,0) | (12,7) | |||||
| – | Trade and other payables and provisions | 33,4 | 148,4 | 1,9 | 30,4 | |||||
| Working capital changes | (101,0) | 113,0 | (50,3) | 60,7 | ||||||
| C. | TAXATION PAID IS RECONCILED TO THE AMOUNTS | |||||||||
| DISCLOSED IN THE INCOME STATEMENT | ||||||||||
| AS FOLLOWS: | ||||||||||
| – | Net amounts unpaid at the beginning of the year | (133,6) | (95,4) | (71,6) | (25,0) | |||||
| – | Current taxation per the income statement | (298,6) | (351,7) | (147,7) | (156,7) | |||||
| – | Net amounts unpaid at the end of the year | 67,3 | 133,6 | 50,0 | 71,6 | |||||
| Cash amounts paid | (364,9) | (313,5) | (169,3) | (110,1) | ||||||
| Group | Company | |||||||
| 2005 | 2004 | 2005 | 2004 | |||||
| Rm | Rm | Rm | Rm | |||||
| D. DIVIDENDS PAID ARE RECONCILED TO THE | ||||||||
| AMOUNTS DISCLOSED IN THE STATEMENT OF | ||||||||
| CHANGES IN EQUITY AS FOLLOWS: | ||||||||
| – Normal dividends per the statement of changes in equity | (298,6) | (243,5) | (331,3) | (265,5) | ||||
| – Dividends paid to outside shareholders in subsidiaries | (8,5) | (24,6) | ||||||
| Cash amounts paid | (307,1) | (268,1) | (331,3) | (265,5) | ||||
| E. ANALYSIS OF DISPOSAL OF SUBSIDIARIES | ||||||||
| AND BUSINESSES | ||||||||
| Inventory | – | – | 1,6 | – | ||||
| Accounts receivable | – | – | 15,4 | – | ||||
| Trade and other payables and provisions | – | – | (6,5) | – | ||||
| Property, plant and equipment | – | – | 0,8 | – | ||||
| Cash on hand at time of the disposal | – | – | 5,4 | – | ||||
| Amounts received in cash | – | – | 16,7 | – | ||||
| Cash on hand at time of disposal | – | – | (5,4) | – | ||||
| Net cash received | – | – | 11,3 | – | ||||
| F. ANALYSIS OF ACQUISITION OF SUBSIDIARIES | ||||||||
| AND BUSINESSES | ||||||||
| Inventory and contracts in progress | (1,9) | (11,1) | (0,3) | – | ||||
| Accounts receivable | (7,6) | (16,6) | – | – | ||||
| Trade and other payables and provisions | 4,2 | 7,1 | – | – | ||||
| Property, plant and equipment | (3,5) | (3,5) | (2,9) | – | ||||
| Net overdraft at time of the acquisition | – | 0,3 | – | – | ||||
| Attributable share of net assets at date of acquisition | – | (21,7) | – | – | ||||
| Outside shareholders’ interest | – | (107,9) | – | – | ||||
| Goodwill on acquisitions | – | (80,8) | – | – | ||||
| Shares bought in existing subsidiaries | – | – | – | (71,0) | ||||
| Purchase of shareholder loan | – | – | – | (99,9) | ||||
| Cost of investment | (8,8) | (234,2) | (3,2) | (170,9) | ||||
| Net overdraft on hand at time of the acquisition | – | (0,3) | – | – | ||||
| Loans and share capital contributed by outside shareholder | 5,6 | – | – | – | ||||
| Adjustment to amount still owing to vendors | – | – | – | (2,6) | ||||
| Net cash paid | (3,2) | (234,5) | (3,2) | (173,5) |
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