A N N U A L   R E P O R T   –   2 0 0 2 
Financial highlights Statutory information
Letter to the shareholders Accounting policies
Board of directors Income statements
Group operations Balance sheets
Developing people Cash flow statements
Corporate governance Notes to the cash flow statements
Value added statement Statements of changes in equity
Segmental analysis Principal subsidiaries
Five-year financial review Share ownership analysis
Summary of statistics Shareholders’ diary
Definitions Administration
Directors’ responsibility Notice of annual general meeting
Report of the independent auditors Currency conversion table
Secretaries’ certification Board, Director and Committes

C A S H    F L O W    S T A T E M E N T S  
FOR THE YEAR ENDED 30 SEPTEMBER      
   

GROUP

COMPANY

 
2002 
2001 
2002 
2001 
 
Notes
Rm 
Rm 
Rm 
Rm 

CASH FLOWS FROM OPERATING ACTIVITIES        
Operating profit before          
working capital changes 572,2  414,1  226,0  205,9 
(Increase)/reduction in net working capital (366,0) (44,5)  67,5 (23,0) 
           
Reduction in RC&C Finance Company          
accounts receivable (208,8)  6,5     
Working capital changes (157,2) (51,0)  67,5 (23,0) 

Cash generated from operations 206,2  369,6  293,5  182,9 
Interest received 55,8  64,5  14,0  14,3 
Interest paid (22,7) (13,1) (13,7) (1,7)
Dividends received 111,8  78,6  151,1  144,8 
Taxation paid (209,0) (133,0) (94,8) (39,1)
Dividends paid          
(including outside shareholders) (201,0) (169,0) (198,1) (163,2)

Net cash inflow from          
operating activities (58,9)  197,6  152,0  138,0 

CASH FLOWS FROM INVESTING ACTIVITIES      
Investments to maintain          
operating capacity   1,9 (9,8) 285,8  60,1
           
– Repayment of non-current loans   14,0  7,3  13,9  5,0 
– Non-current loans granted   - (0,9) - (3,0)
– Replacement of fixed assets   (15,9) (20,4) (6,9) (10,1)
– Proceeds on disposal of fixed assets,          
   investments and other capital items   3,8  4,2  0,3  0,3 
– Net loans from/(to) subsidiaries       278,5  67,9
           
   Investments to increase          
   operating capacity   (468,2) (75,9)  (429,9) (184,9)
           
– Expansion capital expenditure   (26,1) (32,4) (3,7) (14,2)
– Increase in investments   (2,9) (2,8) – 
– Proceeds on disposal of          
   subsidiaries and businesses 0,8    0,8   
– Acquisition of subsidiaries          
   and businesses (440,0) (40,7) (427,0) (170,7)

Net cash (outflow)/inflow from          
investing activities   (466,3) (85,7)  (144,1) (124,8)

   
GROUP            
COMPANY           
 
2002 
2001 
2002 
2001 
 
Rm 
Rm 
Rm 
Rm 

CASH FLOWS FROM FINANCING ACTIVITIES    
Funds provided by shareholders          
– Ordinary shareholders in Reunert   2,8  0,4  2,8  0,4 
– Reunert shares purchased          
   by a subsidiary   (217,9)    
Loan advanced by outside shareholder 2,1    –  – 
Long-term liabilities – repaid   (2,7) (1,5) –  – 

Net cash (outflow)/inflow from          
financing activities   2,2 (219,0) 2,8  0,4

NET (DECREASE)/INCREASE IN CASH          
AND CASH EQUIVALENTS   (523,0) (107,1) 10,7  13,6
CASH AND CASH EQUIVALENTS          
AT BEGINNING OF YEAR   34,3  72,8  69,4  55,8 

CASH AND CASH EQUIVALENTS          
AT END OF YEAR*   (557,3) (34,3)  80,1  69,4 

Net cash flows from operating activities   372,1  360,1     
Operating cash flow per share (cents)   199,0  187,9     

* Cash and cash equivalents are made up of:
     
Cash and cash equivalents   283,5  303,5  80,1  69,4 
Short-term loans and bank overdrafts   (2,8) (13,8) –  – 

Net cash resources of the group/company          
excluding RC&C Finance Company   280,7  289,7  80,1  69,4 
RC&C Finance Company short-term          
borrowings   (838,0) (324,0)    

Net (borrowings)/cash and          
cash equivalents of the group/company   (557,3) 34,3  80,1  69,4 


back to the top...
© Copyright - Reunert - 2003