Company Annual Financial Statements

Company statement of cash flows

for the year ended 30 June 2017

  Notes   2017
R’million
  2016
R’million
 

Cash flows from operating activities

           
Cash generated from operations  A     1 945,6     1 883,2    
Financing costs paid  B     (72,5)    (107,4)   
Interest received        25,3     54,7    
Tax paid  C     (67,1)    (135,1)   
Cash generated from operating activities        1 831,3     1 695,4    

Cash flows from investing activities 

                 
Capital expenditure – property, plant and equipment        (5,3)    (53,0)   
Proceeds from the sale of property, plant and equipment             1,0    
Capital expenditure – intangible assets        (215,9)    (7,8)   
Proceeds on the sale of assets classified as held-for-sale             33,9    
Acquisition of subsidiaries and businesses        (2,3)    (371,4)   
Acquisition of available-for-sale financial assets        (23,6)    –    
Net cash outflows – amounts due by Group companies        (48,2)    (86,0)   
Cash used in investing activities        (295,3)    (483,3)   

Cash flows from financing activities 

                 
Proceeds from borrowings             250,0    
Repayment of borrowings        (15,0)    (250,9)   
Proceeds from issue of ordinary share capital        19,6     0,9    
Capital distribution paid        (1 131,9)    (986,3)   
Net cash inflows/(outflows) – amounts due from Group companies        57,8     (437,6)   
Cash used in financing activities        (1 069,5)    (1 423,9)   

Cash and cash equivalents 

                 
Movement in cash and cash equivalents        466,5     (211,8)   
Cash and cash equivalents at the beginning of the year        (686,4)    (474,6)   
Cash and cash equivalents at the end of the year  D     (219,9)    (686,4)  
For the purposes of the statement of cash flows, cash and cash equivalents comprise bank balances less bank overdrafts.