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