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  ANNUAL REPORT 2007  
NOTES TO THE CASH FLOW statements    
 
 
for the year ended 30 September 2007
    GROUP COMPANY
    2007 
Rm 
2006 
Rm 
2007 
Rm 
2006 
Rm 
A. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS BEFORE WORKING CAPITAL CHANGES        
  Profit before taxation 925,9  1 339,2  1 921,4  833,9 
  Adjusted for:        
  – Net interest received (47,1) (58,0) (28,4) (37,2)
  – Dividends received (7,7) (6,9) (1 724,2) (342,2)
  – Depreciation of property, plant and equipment 68,0  59,9  24,8  24,7 
  – Amortisation of intangible assets 6,3  3,3  3,7  1,3 
  – Negative goodwill (1,1) —  —  — 
  – Impairment of goodwill 0,8  3,4  —  3,4 
  – Net (surplus)/loss on disposal of property, plant and
   equipment
(0,5) (2,6)  0,7  0,3 
  – Net surplus on disposal of intangible assets (0,2) —  —  — 
  – Other abnormal items (34,5) —  (1,7) (11,2)
  – Surplus on disposal of businesses (118,1) (5,0) (366,3) (5,0)
  – Share option expense 609,6  9,6  565,2  9,6 
  – Impairment of intangible assets 1,7  —  —  — 
  – Other non-cash movements 13,6  (11,3) 3,6  (2,9)
  Cash generated from operations before working capital changes 1 416,7  1 331,6  398,8  474,7 
           
B. WORKING CAPITAL CHANGES        
  – Inventory and contracts in progress (66,1) (247,6) 3,5 (64,8)
  – Accounts receivable, derivative assets and non-current
   assets held for sale
(240,3) (456,4) 86,1 (185,5)
  – Trade and other payables and derivative liabilities (132,6) 451,2 (102,0) 58,9
  Working capital changes (439,0) (252,8) (12,4) (191,4)
           
C. RECONCILIATION OF TAXATION PAID TO THE AMOUNTS DISCLOSED IN THE INCOME STATEMENT AS FOLLOWS:        
  – Net amounts unpaid at beginning of year (182,2) (67,5) (61,0) (50,0)
  – Current taxation per the income statement (400,8) (461,8) (147,8) (203,0)
  – Translation reserve 0,3  (0,3) —  — 
  – Taxation provisions of subsidiaries purchased (0,3) —     
  – Taxation provisions of subsidiaries sold 2,3  —     
  – Net amounts unpaid at end of year 12,1  182,2  (14,3) 61,0 
  Cash amounts paid (568,6) (347,4) (223,1) (192,0)
           
D. RECONCILIATION OF CASH DIVIDENDS PAID TO THE AMOUNTS DISCLOSED IN THE STATEMENTS OF CHANGES IN EQUITY AS FOLLOWS:        
  – Dividends unpaid at the beginning of year (390,7) —  (390,7) — 
  – Dividends per the statement of changes in equity (484,1) (839,0) (600,1) (842,7)
  – Dividends paid to outside shareholders in subsidiaries (4,5) (15,9) —  — 
  – Net amounts unpaid at end of year —  390,7  —  390,7 
  Cash amounts paid (879,3) (464,2) (990,8) (452,0)
           
E. ANALYSIS OF TRANSFER/DISPOSAL OF SUBSIDIARIES AND BUSINESSES:        
  Inventory —  —  11,5  — 
  Accounts receivable 1 704,5  —  37,6  — 
  Trade and other payables and provisions (5,8) —  (29,6) — 
  Taxation (2,3) —  —  — 
  Property, plant and equipment 1,2  —  5,2  — 
  Intangible assets —  —  1,1  — 
  Deferred taxation (41,4) —  —  — 
  Investments in subsidiaries —  —  43,4  — 
  Existing goodwill —  —  13,8  — 
  Attributable portion of goodwill arising in Quince on this transaction 107,1  —  —  — 
  Surplus on transfer/disposal 118,1  —  389,3  — 
  Loss on disposal —  —  (23,0) — 
  Short-term borrowings (1 575,1) —  —  — 
  Cash on hand 68,7  —  2,2  — 
  Amounts received in cash 375,0  —  451,5  — 
  Net short-term borrowings/(cash) on hand at time of transfer/disposal 1 506,4  —  (2,2) — 
  Net cash received 1 881,4  —  449,3  — 
           
F. ANALYSIS OF ACQUISITION OF SUBSIDIARIES AND BUSINESSES:        
  Inventory (4,7) (0,5) —  (8,0)
  Accounts receivable (12,9) (1,4) —  (10,4)
  Trade and other payables and provisions 14,5  1,9 —  4,1 
  Taxation 0,3  —  —  — 
  Property, plant and equipment (69,1) (0,3) —  (2,7)
  Intangible assets (1,6) (5,2) —  (3,7)
  Deferred taxation 10,2  —  —  — 
  Net cash on hand at time of the acquisition (8,2) (0,1) —  (1,9)
  Long-term liabilities 24,1  —  —  — 
  Goodwill on previous acquisitions (25,2) (0,8) —  (3,4)
  Intercompany loan     —  13,4 
  Outside shareholders’ interest (26,9) —  —  — 
  Goodwill on acquisitions (20,5) —  —  — 
  Shares purchased in existing subsidiaries —  —  (35,8) — 
  Cost of investment (120,0) (6,4) (35,8) (12,6)
  Net cash on hand at time of the acquisition 8,2  0,1  —  1,9 
  Net cash paid (111,8) (6,3) (35,8) (10,7)
     
 
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