Cash flow statements

for the year ended 29 February 2012

 

   

GROUP

 

COMPANY

 

Notes 

2012 
Rm 

2011 
Rm 

 

2012 
Rm 

2011 
Rm 

Cash flows from operating activities 

                   

Trading profit/(loss)

   

1 267.5 

 

1 417.7 

   

(11.2)

 

(1.1)

Depreciation and amortisation 

2.1 

 

808.1 

 

733.3 

   

— 

 

— 

Loss on sale of property, equipment and vehicles and intangible assets 

   

7.6 

 

— 

   

— 

 

— 

Share options expense 

4.3 

 

95.7 

 

73.8 

   

— 

 

— 

Net operating lease liability 

   

52.7 

 

29.3 

   

— 

 

— 

Cash generated/(utilised) before movements in working capital 

   

2 231.6 

 

2 254.1 

   

(11.2)

 

(1.1)

Movements in working capital 

   

490.3 

 

(844.8)

   

5.7 

 

(6.7)

Increase/(decrease) in trade and other payables 

   

1 030.4 

 

(678.1)

   

2.5 

 

(3.5)

Increase in inventory 

   

(172.2)

 

(349.1)

   

— 

 

— 

(Increase)/decrease in trade and other receivables 

   

(367.9)

 

182.4 

   

3.2 

 

(3.2)

Cash generated by/(utilised in) trading activities 

   

2 721.9 

 

1 409.3 

   

(5.5)

 

(7.8)

Interest received 

2.1 

 

39.5 

 

39.5 

   

16.5 

 

— 

Interest paid 

2.1 

 

(135.1)

 

(111.0)

   

(16.5)

 

— 

Cash generated by/(utilised in) operations 

   

2 626.3 

 

1 337.8 

   

(5.5)

 

(7.8)

Dividends received 

   

— 

 

— 

   

847.4 

 

810.4 

Dividends paid 

7.1 

 

(605.4)

 

(808.0)

   

(614.9)

 

(825.0)

Tax paid 

5.4 

 

(462.1)

 

(526.3)

   

— 

 

(0.1)

Net cash generated by/(utilised in) operating activities – continuing operations 

   

1 558.8 

 

3.5 

   

227.0 

 

(22.5)

Net cash (utilised in)/generated by operating activities – discontinued operation 

18 

 

(330.4)

 

13.9 

   

— 

 

— 

Total net cash generated by/(utilised in) operating activities 

   

1 228.4 

 

17.4 

   

227.0 

 

(22.5)

Cash flows from investing activities 

                   

Investment in property, equipment and vehicles and intangible assets 

   

(1 611.0)

 

(1 245.7)

   

— 

 

— 

Intangible asset additions 

8.1, 8.2 

 

(271.7)

 

(82.5)

   

— 

 

— 

Property additions 

 

(446.8)

 

(289.2)

   

— 

 

— 

Equipment and vehicle additions 

 

(889.9)

 

(874.0)

   

— 

 

— 

Aircraft additions 

 

(2.6)

 

— 

   

— 

 

— 

Increase in investment in associate 

11 

 

(102.5)

 

— 

   

— 

 

— 

Purchase of operations 

8.1, 8.2, 9 

 

(106.4)

 

— 

   

— 

 

— 

Proceeds on disposal of property, equipment and vehiclesand intangible assets 

   

44.5 

 

21.9 

   

— 

 

— 

Loans repaid/(advanced)

   

9.4 

 

34.5 

   

(627.0)

 

22.5 

Net cash (utilised in)/generated by investing activities – continuing operations 

   

(1 766.0)

 

(1 189.3)

   

(627.0)

 

22.5 

Net cash generated by/(utilised in) investing activities – discontinued operation 

18 

 

1 459.6 

 

(151.4)

   

— 

 

— 

Total net cash (utilised in)/generated by investing activities 

   

(306.4)

 

(1 340.7)

   

(627.0)

 

22.5 

Cash flows from financing activities 

                   

Debt raised/(repaid)

   

787.5 

 

(32.5)

   

400.0 

 

— 

Share repurchases 

20.1 

 

(42.7)

 

(90.2)

   

— 

 

— 

Proceeds from employees on settlement of share options 

   

31.1 

 

25.1 

   

— 

 

— 

Net cash generated by/(utilised in) financing activities – continuing operations 

   

775.9 

 

(97.6)

   

400.0 

 

— 

Net cash generated by financing activities – discontinued operation 

18 

 

— 

 

10.0 

   

— 

 

— 

Total net cash generated by/(utilised in) financingactivities 

   

775.9 

 

(87.6)

   

400.0 

 

— 

Net increase/(decrease) in cash and cash equivalents 

   

1 697.9 

 

(1 410.9)

   

— 

 

— 

Cash and cash equivalents at 1 March 

   

(431.8)

 

1 055.3 

   

— 

 

— 

Effect of exchange rate fluctuations on cash and cashequivalents 

   

5.6 

 

(76.2)

   

— 

 

— 

Cash and cash equivalents at end February 

   

1 271.7 

 

(431.8)

   

— 

 

— 

Continuing operations 

17 

 

1 271.7 

 

(547.4)

         

Discontinued operation 

   

— 

 

115.6