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

N O T E S   O N   C A S H   F L O W   S T A T E M E N T S
  GROUP COMPANY
  2002 2001 2002 2001
  Rm Rm Rm Rm

A. RECONCILIATION OF NET PROFIT BEFORE TAXATION
TO OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES
       
Profit before taxation 489,9   438,3   359,1   348,0   
Adjusted for:          
­ Net interest received (33,1)   (51,4)   (0,3)   (12,6)  
­ Dividends received (3,4)   (7,7)   (151,1)   (144,8)  
­ Depreciation 46,2   43,8   19,0   16,0  
­ Amortisation of goodwill 41,4   2,3   4,7   1,0  
­ (Surplus)/deficit on disposal of plant, vehicles
and equipment (2,1)   (1,1)   (0,1)   1,4  
­ Provision against investments in subsidiaries       (10,1)   (1,6)  
­ Net creation/(reversal) of provisions 14,6   (10,9)   4,8   (0,8)  
­ Other movements 18,7   0,8   ­   (0,7)  
OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES 572,2   414,1   226,0   205,9  
             

B. WORKING CAPITAL CHANGES             
­ Inventory and contracts in progress (161,5)   (53,5)   (121,5)   (49,1)  
­ Accounts receivable (118,0)   (71,3)   66,1   8,9  
­ Accounts payable and provisions 122,3   73,8   122,9   17,2  
WORKING CAPITAL CHANGES (157,2)   (51,0)   67,5   (23,0)  
             

C. TAXATION PAID IS RECONCILED TO THE AMOUNTS
DISCLOSED IN THE INCOME STATEMENT AS FOLLOWS:
 
           
­ Net amounts unpaid, at beginning of year (110,5)   (95,8)   (49,3)   (44,3)  
­ Current taxation per the income statement (163,9)   (147,7)   (79,1)   (44,1)  
­ Net amounts unpaid, at end of year 65,4   110,5   33,6   49,3  
CASH AMOUNTS PAID (209,0)   (133,0)   (94,8)   (39,1)  

THE AMOUNTS DISCLOSED IN THE STATEMENT OF
CHANGES IN EQUITY AS FOLLOWS:
 
           
­ Charge per the statement of changes in equity (181,4)   (156,5)   (198,1)   (163,2)  
­ Dividends paid to outside shareholders (19,6)   (12,5)        
CASH AMOUNTS PAID (201,0)   (169,0)   (198,1)   (163,2)  
             

E. ANALYSIS OF DISPOSAL OF BUSINESSES            
Inventory 0,5      0,5     
Accounts receivable 0,5      1,5     
Accounts payable (0,2)      (0,2)     
Cash on hand at time of disposal 0,2      0,2     
Cash amounts received 1,0      1,0     
Less: Cash on hand at time of disposal (0,2)      (0,2)     
NET CASH RECEIVED 0,8      0,8     
             

F. ANALYSIS OF ACQUISITION OF SUBSIDIARIES AND BUSINESSES            
             
Inventory (1,7)   (25,9)   (1,7)   (23,7)  
Accounts receivable ­   (5,1)   ­   ­  
Accounts payable (4,1)   1,8   ­   ­  
Property, plant and equipment (1,3)   (1,5)   (1,3)   ­  
Attributable share of net assets at date of acquisition (60,4)   ­   (56,6)   ­  
Goodwill on acquisitions (390,5)   (13,2)   (383,6)   (2,0)  
Increased capital of subsidiary       (5,0)   (145,0)  
CASH AMOUNTS PAID (458,0)   (43,9)   (448,2)   (170,7)  
CASH PAID IN CURRENT YEAR, OWING FROM PRIOR YEAR (3,2)   ­   ­   ­  
AMOUNTS STILL OWING TO VENDORS 21,2   3,2   21,2   ­  
NET CASH PAID (440,0)   (40,7)   (427,0)   (170,7)  
           


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