Pick n Pay Group of Companies financial statements
statements of cash flows
for the period ended
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Pick n Pay Stores Group |
Pick n Pay Holdings Group |
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Notes |
52 weeks 1 March 2015 Rm |
52 weeks 2 March 2014 Rm |
52 weeks 1 March 2015 Rm |
52 weeks 2 March 2014 Rm |
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Cash flows from operating activities |
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Trading profit |
1 240.1 |
1 010.3 |
1 238.6 |
1 008.1 |
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Amortisation |
155.0 |
199.3 |
155.0 |
199.3 |
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Depreciation |
714.5 |
749.1 |
714.5 |
749.1 |
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Share-based payments expense |
139.9 |
71.5 |
139.9 |
71.5 |
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Movement in net operating lease liabilities |
78.8 |
90.8 |
78.8 |
90.8 |
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Movement in provisions |
(7.1) |
(0.9) |
(7.1) |
(0.9) |
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Fair value adjustments |
2.1 |
(6.3) |
2.1 |
(6.3) |
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Cash generated before movements in working capital |
2 323.3 |
2 113.8 |
2 321.8 |
2 111.6 |
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Movements in working capital |
152.5 |
780.7 |
150.1 |
781.3 |
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Movements in trade and other payables |
940.7 |
1 229.1 |
938.3 |
1 229.7 |
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Movements in inventory |
(672.6) |
31.6 |
(672.6) |
31.6 |
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Movements in trade and other receivables |
(115.6) |
(480.0) |
(115.6) |
(480.0) |
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Cash generated from trading activities |
2 475.8 |
2 894.5 |
2 471.9 |
2 892.9 |
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Interest received |
59.4 |
44.3 |
59.4 |
44.3 |
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Interest paid |
(119.0) |
(143.9) |
(119.0) |
(143.9) |
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Cash generated from operations |
2 416.2 |
2 794.9 |
2 412.3 |
2 793.3 |
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Dividends paid |
(461.8) |
(398.4) |
(457.1) |
(397.2) |
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Tax paid |
(284.5) |
(270.2) |
(284.5) |
(270.2) |
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Cash generated from operating activities |
1 669.9 |
2 126.3 |
1 670.7 |
2 125.9 |
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Cash flows from investing activities |
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Investment in intangible assets |
(159.2) |
(289.2) |
(159.2) |
(289.2) |
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Investment in property, plant and equipment |
(897.3) |
(882.4) |
(897.3) |
(882.4) |
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Purchase of operations |
(50.9) |
(103.3) |
(50.9) |
(103.3) |
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Proceeds on disposal of intangible assets |
4.7 |
11.1 |
4.7 |
11.1 |
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Proceeds on disposal of property, plant and equipment |
57.3 |
38.2 |
57.3 |
38.2 |
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Loans (advanced)/repaid |
(8.6) |
6.5 |
(8.6) |
6.9 |
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Participation in export partnership |
1.7 |
3.0 |
1.7 |
3.0 |
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Retirement obligation |
60.9 |
(4.3) |
60.9 |
(4.3) |
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Cash utilised in investing activities |
(991.4) |
(1 220.4) |
(991.4) |
(1 220.0) |
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Cash flows from financing activities |
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Proceeds from borrowings |
400.0 |
3 100.0 |
400.0 |
3 100.0 |
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Repayment of borrowings |
(1 100.6) |
(2 819.1) |
(1 100.6) |
(2 819.1) |
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Share repurchases |
(177.9) |
(45.7) |
(177.9) |
(45.7) |
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Proceeds from employees on settlement of share options |
1.0 |
1.3 |
1.0 |
1.3 |
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Cash (utilised in)/generated from financing activities |
(877.5) |
236.5 |
(877.5) |
236.5 |
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Net (decrease)/increase in cash and cash equivalents |
(199.0) |
1 142.4 |
(198.2) |
1 142.4 |
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Cash and cash equivalents at beginning of period |
870.3 |
(269.9) |
870.3 |
(269.9) |
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Effect of exchange rate fluctuations on cash and cash equivalents |
2.5 |
(2.2) |
2.5 |
(2.2) |
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Cash and cash equivalents at end of period |
673.8 |
870.3 |
674.6 |
870.3 |
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Consisting of: |
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Cash and cash equivalents |
1 173.8 |
1 540.3 |
1 174.6 |
1 540.3 |
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Bank overdraft and overnight borrowings |
(500.0) |
(670.0) |
(500.0) |
(670.0) |
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