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)