Cash flow statements

for the year ended 30 September 2005

      Group Company
           
    2005 2004 2005 2004
Notes Rm Rm Rm Rm





           
Cash flows from operating activities          
Cash generated from operations before working capital          
changes A 989,6 806,1 457,7 333,3
(Increase) / decrease in net working capital   (600,7) 804,5 (50,3) 60,7
           
Movement in RC&C Finance Company accounts receivable          
– Increase in RC&C Finance Company accounts receivable   (499,7) (564,0)    
– Sale of debtors book in December 2003   1 255,5    
Working capital changes B (101,0) 113,0 (50,3) 60,7






           
           
Cash generated from operations   388,9 1 610,6 407,4 394,0
Interest received   60,7 47,8 25,3 20,2
Interest paid   (23,3) (10,1) (7,1) (1,6)
Dividends received (including from associate)   82,0 27,4 307,4 394,5
Taxation paid C (364,9) (313,5) (169,3) (110,1)
Dividends paid (including to outside shareholders          
in subsidiaries) D (307,1) (268,1) (331,3) (265,5)






           
Net cash (outflow) / inflow from operating activities   (163,7) 1 094,1 232,4 431,5






           
Cash flows from investing activities          
Investments to maintain operating capacity   (18,0) 18,0 (454,2) 524,3
           
– Repayment of non-current loans   3,1 4,8 3,1 4,8
– Non-current loans granted   (8,2) (0,5) (8,2) (0,4)
– Replacement of property, plant and equipment   (32,4) (20,1) (16,0) (12,9)
– Proceeds on disposal of property, plant and equipment,          
investments and other capital items   19,5 33,8 18,7 0,3
– Net loans (to) / from subsidiaries       (451,8) 532,5
           
Investments to increase operating capacity   (25,8) (268,1) (132,9) (237,5)
           
– Expansion capital expenditure   (22,6) (28,7) (6,9) (16,2)
– Increase in investments   (4,9) (134,1) (47,8)
– Disposal of subsidiaries and businesses E 11,3
– Acquisition of subsidiaries and businesses F (3,2) (234,5) (3,2) (173,5)






           
           
Net cash (outflow) / inflow from investing activities   (43,8) (250,1) (587,1) 286,8
    Group     Company      
                 
  2005   2004   2005   2004  
  Rm   Rm   Rm   Rm  




 
 
 
                 
Cash flows from financing activities                
Funds provided by shareholders                
– Ordinary shareholders in Reunert 26,7   18,7   26,7   18,7  
Funds repaid to shareholders                
– Share buyback (capital and dividend portion)   (429,2)     (429,2)  
– Reunert shares purchased by a subsidiary   (47,4)      
Long-term borrowings – raised 130,0     130,0    




 
 
 
                 
Net cash inflow / (outflow) from financing activities 156,7   (457,9)   156,7   (410,5)  




 
 
 
                 
Net (decrease) / increase in cash and cash equivalents (50,8)   386,1   (198,0)   307,8  
Net (borrowings) / cash and cash equivalents at the                
beginning of the year (33,2)   (419,3)   343,8   36,0  




 
 
 
                 
Net (borrowings) / cash and cash equivalents at the end of the year* (84,0)   (33,2)   145,8   343,8  




 
 
 
                 
* Net (borrowings) / cash and cash equivalents are made up of:                
Cash and cash equivalents 784,4   451,3   145,8   346,5  
Bank overdrafts (1,6)   (170,4)     (2,7)  




 
 
 
                 
Net cash resources of the group/company excluding                
RC&C Finance Company 782,8   280,9   145,8   343,8  
RC&C Finance Company short-term borrowings (866,8)   (314,1)          




 
 
 
                 
Net (borrowings) / cash and cash equivalents (84,0)   (33,2)   145,8   343,8  




 
 
 
                 
Net cash flows from operating activities before dividends                
paid and excluding movements in RC&C Finance Company                
accounts receivable 643,1   670,7          
Operating cash flow per share (cents) 370,9   353,2