| |
|
Pick n Pay Stores
Group |
|
Pick n Pay Holdings
Group |
| |
|
2013 |
2012 |
|
2013 |
2012 |
| |
Notes |
Rm |
Rm |
|
Rm |
Rm |
| Cash flows from operating activities |
|
|
|
|
|
|
| Trading profit |
|
852.4 |
1 275.1 |
|
850.5 |
1 273.5 |
| Depreciation and amortisation |
2.1 |
895.5 |
808.1 |
|
895.5 |
808.1 |
| Share options expense |
4.3 |
91.3 |
95.7 |
|
91.3 |
95.7 |
| Net operating lease liability |
|
74.8 |
52.7 |
|
74.8 |
52.7 |
| Cash generated before movements in working capital |
|
1 914.0 |
2 231.6 |
|
1 912.1 |
2 230.0 |
| Movements in working capital |
|
(1 012.1) |
490.3 |
|
(1 010.2) |
491.9 |
| (Decrease)/increase in trade and other payables |
|
(152.4) |
1 030.4 |
|
(150.5) |
1 032.0 |
| Increase in inventory |
|
(626.0) |
(172.2) |
|
(626.0) |
(172.2) |
| Increase in trade and other receivables |
|
(233.7) |
(367.9) |
|
(233.7) |
(367.9) |
|
|
|
|
|
|
|
| Cash generated by trading activities |
|
901.9 |
2 721.9 |
|
901.9 |
2 721.9 |
| Interest received |
1 |
42.8 |
39.5 |
|
42.8 |
39.5 |
| Interest paid |
2.3 |
(131.3) |
(135.1) |
|
(131.3) |
(135.1) |
| Cash generated by operations |
|
813.4 |
2 626.3 |
|
813.4 |
2 626.3 |
| Dividends paid |
8 |
(583.5) |
(605.4) |
|
(583.5) |
(605.4) |
| Tax paid |
5.4 |
(311.6) |
(462.1) |
|
(311.6) |
(462.1) |
| Net cash (utilised in)/generated by operating activities – continuing operations |
|
(81.7) |
1 558.8 |
|
(81.7) |
1 558.8 |
| Net cash utilised in operating activities – discontinued operation |
|
— |
(330.4) |
|
— |
(330.4) |
| Total net cash (utilised in)/generated by operating activities |
|
(81.7) |
1 228.4 |
|
(81.7) |
1 228.4 |
| Cash flows from investing activities |
|
|
|
|
|
|
| Investment in property, equipment and vehicles and intangible assets |
|
(1 212.5) |
(1 611.0) |
|
(1 212.5) |
(1 611.0) |
| Intangible asset additions |
9 |
(242.4) |
(271.7) |
|
(242.4) |
(271.7) |
| Property additions |
10 |
(166.5) |
(446.8) |
|
(166.5) |
(446.8) |
| Equipment and vehicle additions and leasehold improvements |
10 |
(803.6) |
(889.9) |
|
(803.6) |
(889.9) |
| Aircraft additions |
10 |
— |
(2.6) |
|
— |
(2.6) |
| Increase in investment in associate |
14 |
— |
(102.5) |
|
— |
(102.5) |
| Purchase of operations |
9,10,17 |
(118.3) |
(106.4) |
|
(118.3) |
(106.4) |
| Proceeds on disposal of property, equipment and vehicles and intangible assets |
|
231.5 |
44.5 |
|
231.5 |
44.5 |
| Loans (advanced)/repaid |
|
(17.7) |
9.4 |
|
(17.7) |
9.4 |
| Net cash utilised in investing activities – continuing operations |
|
(1 117.0) |
(1 766.0) |
|
(1 117.0) |
(1 766.0) |
| Net cash generated by investing activities – discontinued operation |
|
— |
1 459.6 |
|
— |
1 459.6 |
| Total net cash utilised in investing activities |
|
(1 117.0) |
(306.4) |
|
(1 117.0) |
(306.4) |
| Cash flows from financing activities |
|
|
|
|
|
|
| Borrowings (repaid)/raised |
|
(260.5) |
787.5 |
|
(260.5) |
787.5 |
| Share repurchases |
21 |
(77.9) |
(42.7) |
|
(77.9) |
(42.7) |
| Proceeds from employees on settlement of share options |
|
2.9 |
31.1 |
|
2.9 |
31.1 |
| Total net cash (utilised in)/generated by financing activities |
|
(335.5) |
775.9 |
|
(335.5) |
775.9 |
| Net (decrease)/increase in cash and cash equivalents |
|
(1 534.2) |
1 697.9 |
|
(1 534.2) |
1 697.9 |
| Cash and cash equivalents at beginning of period |
|
1 271.7 |
(431.8) |
|
1 271.7 |
(431.8) |
| Effect of exchange rate fluctuations on cash and cash equivalents |
|
(7.4) |
5.6 |
|
(7.4) |
5.6 |
| Cash and cash equivalents at end of period |
19 |
(269.9) |
1 271.7 |
|
(269.9) |
1 271.7 |
