Pick n Pay Holdings Limited and its subsidiaries
Cash flow statements
for the year ended 29 February 2012
GROUP |
COMPANY |
||||||||
 |
2012 |
 |
2011 |
|
2012 |
|
2011 |
||
Cash flows from operating activities |
|||||||||
Trading profit/(loss) |
1 265.9 |
1 416.3 |
(1.6) |
(1.4) |
|||||
Depreciation and amortisation |
808.1 |
733.3 |
— |
— |
|||||
Loss on sale of property, equipment and vehicles and intangible assets |
7.6 |
— |
— |
— |
|||||
Share options expense |
95.7 |
73.8 |
— |
— |
|||||
Net operating lease obligations |
52.7 |
29.3 |
— |
— |
|||||
Cash generated/(utilised) before movements in working capital |
2 230.0 |
2 252.7 |
(1.6) |
(1.4) |
|||||
Movements in working capital: |
491.9 |
(843.4) |
0.4 |
— |
|||||
Increase/(decrease) in trade and other payables |
1 032.0 |
(677.2) |
0.9 |
(0.5) |
|||||
Increase in inventory |
(172.2) |
(349.1) |
— |
— |
|||||
(Increase)/decrease in trade and other receivables |
(367.9) |
182.9 |
(0.5) |
0.5 |
|||||
 |
|
|
|
|
|
|
|
|
|
Cash generated by/(utilised in) trading activities |
2 721.9 |
1 409.3 |
(1.2) |
(1.4) |
|||||
Interest received |
39.5 |
39.5 |
— |
— |
|||||
Interest paid |
(135.1) |
(111.0) |
— |
— |
|||||
Cash generated by/(utilised in) operations |
2 626.3 |
1 337.8 |
(1.2) |
(1.4) |
|||||
Dividends received |
— |
— |
329.4 |
442.0 |
|||||
Dividends paid |
(605.4) |
(808.0) |
(328.2) |
(440.6) |
|||||
Tax paid |
(462.1) |
(526.3) |
— |
— |
|||||
Net cash generated by operating activities – continuing operations |
1 558.8 |
3.5 |
— |
— |
|||||
Net cash (utilised in)/generated by operating activities – discontinued operation |
(330.4) |
13.9 |
— |
— |
|||||
Total net cash generated by operating activities |
1 228.4 |
17.4 |
— |
— |
|||||
Cash flows from investing activities |
|||||||||
Investment in property, equipment and vehicles and intangible assets |
(1 611.0) |
(1 245.7) |
— |
— |
|||||
Intangible asset additions |
(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 |
(102.5) |
— |
— |
— |
|||||
Purchase of operations |
(106.4) |
— |
— |
— |
|||||
Proceeds on disposal of property, equipment and vehicles and intangible assets |
44.5 |
21.9 |
— |
— |
|||||
Loans repaid |
9.4 |
34.5 |
— |
— |
|||||
Net cash utilised in investing activities – continuing operations |
(1 766.0) |
(1 189.3) |
— |
— |
|||||
Net cash generated by/(utilised in) investing activities – discontinued operation |
1 459.6 |
(151.4) |
— |
— |
|||||
Total net cash utilised in investing activities |
(306.4) |
(1 340.7) |
— |
— |
|||||
Cash flows from financing activities |
|||||||||
Debt raised/(repaid) |
787.5 |
(32.5) |
— |
— |
|||||
Share repurchases |
(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) |
— |
— |
|||||
Net cash generated by financing activities – discontinued operation |
— |
10.0 |
— |
— |
|||||
Total net cash generated by/(utilised in) financing activities |
775.9 |
(87.6) |
— |
— |
|||||
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 cash equivalents |
5.6 |
(76.2) |
— |
— |
|||||
Cash and cash equivalents at end February |
1 271.7 |
(431.8) |
— |
— |
|||||
Continuing operations |
1 271.7 |
(547.4) |
— |
— |
|||||
Discontinued operation |
— |
115.6 |
— |
— |
|||||
|
|
|
|
|
|
|
|
|
|
