Content
Cash flow statements
for the year ended 28 February 2010
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| Notes | 2010 Rm |
2009 Rm* |
2010 Rm |
2009 Rm* |
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| Cash flows from operating activities | |||||||||
| Trading profit/(loss) | 1 653.1 | 1 695.6 | (1.9) | (1.6) | |||||
| Loss on sale of equipment and vehicles | 5.6 | 13.7 | — | — | |||||
| Depreciation and amortisation | 2 | 735.3 | 615.8 | — | — | ||||
| Share options expense | 4.3 | 65.2 | 59.1 | — | — | ||||
| Net operating lease obligations | 36.5 | 33.4 | — | — | |||||
| Cash generated/(utilised) before movements in working capital | 2 495.7 | 2 417.6 | (1.9) | (1.6) | |||||
| Movements in working capital | (47.0) | 212.0 | 3.6 | 0.2 | |||||
| Increase in trade and other payables | 268.5 | 1 148.8 | 3.6 | 0.1 | |||||
| Increase in inventory | (148.9) | (415.2) | — | — | |||||
| (Increase)/decrease in trade and other receivables | (166.6) | (521.6) | — | 0.1 | |||||
| Amounts received from a subsidiary company | 21.2 | — | — | 103.1 | 0.9 | ||||
| Cash generated by/(utilised in) trading activities | 2 448.7 | 2 629.6 | 104.8 | (0.5) | |||||
| Interest received | 1 | 75.9 | 71.9 | 0.3 | — | ||||
| Interest paid | 2 | (91.6) | (107.5) | — | — | ||||
| Cash generated by/(utilised in) operations | 2 433.0 | 2 594.0 | 105.1 | (0.5) | |||||
| Dividends received | 1 | — | — | 1 810.9 | 778.7 | ||||
| Dividends paid | 7 | (814.6) | (717.8) | (880.7) | (778.2) | ||||
| Tax (paid)/received | 5.4 | (457.5) | (567.7) | 1.8 | — | ||||
| Net cash from operating activities – continuing operations | 1 160.9 | 1 308.5 | 1 037.1 | — | |||||
| Net cash utilised in operating activities – discontinued operation | 18 | (212.7) | (56.1) | — | — | ||||
| Total net cash from operating activities | 948.2 | 1 252.4 | 1 037.1 | — | |||||
| Cash flows from investing activities | |||||||||
| Investment in property, equipment and vehicles to expand operations | (367.3) | (386.0) | — | — | |||||
| Intangible asset additions | 8.2 | (50.3) | (52.9) | — | — | ||||
| Property additions | 9 | (140.3) | (46.7) | — | — | ||||
| Equipment and vehicle additions | 9 | (176.7) | (286.4) | — | — | ||||
| Investment in property, equipment and vehicles to maintain operations | (826.2) | (616.5) | — | — | |||||
| Intangible asset additions | 8.2 | (1.2) | (13.2) | — | — | ||||
| Property additions | 9 | (8.6) | (5.6) | — | — | ||||
| Aircraft additions | 9 | (0.7) | — | — | — | ||||
| Equipment and vehicle additions | 9 | (815.7) | (597.7) | — | — | ||||
| Proceeds on disposal of property | 207.5 | 78.0 | — | — | |||||
| Proceeds on disposal of equipment and vehicles | 1.9 | 21.8 | — | — | |||||
| Loans repaid/(advanced) | 3.9 | (7.9) | — | — | |||||
| Net cash utilised in investing activities – continuing operations | (980.2) | (910.6) | — | — | |||||
| Net cash from investing activities – discontinued operation (net proceeds on closure) | 18 | 56.8 | 68.9 | — | — | ||||
| Total net cash utilised in investing activities | (923.4) | (841.7) | — | — | |||||
| Cash flows from financing activities | |||||||||
| Debt repaid | (6.9) | (1.3) | — | — | |||||
| Share repurchases | 20.1, 19.3 | (80.1) | (21.6) | (1 037.1) | — | ||||
| Proceeds from employees on settlement of share options | 36.4 | 31.3 | — | — | |||||
| Net cash (utilised in)/from financing activities – continuing operations | (50.6) | 8.4 | (1 037.1) | — | |||||
| Net (decrease)/increase in cash and cash equivalents | (25.8) | 419.1 | — | — | |||||
| Cash and cash equivalents at 1 March | 1 072.8 | 663.2 | — | — | |||||
| Effect of exchange rate fluctuations on cash and cash equivalents | 8.3 | (9.5) | — | — | |||||
| Cash and cash equivalents at 28 February | 17 | 1 055.3 | 1 072.8 | — | — | ||||
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*Restated – refer to note 31.