| |
|
|
GROUP |
COMPANY |
| |
|
|
2009
Rm |
2008
Rm |
2009
Rm |
2008
Rm |
| A. |
RECONCILIATION OF PROFIT BEFORE
TAXATION TO CASH GENERATED FROM OPERATIONS BEFORE
WORKING CAPITAL CHANGES |
|
|
|
|
|
| |
Profit before taxation |
|
1
547,8 |
1 634,4 |
1
088,6 |
1 037,8 |
| |
Adjusted for: |
|
|
|
|
|
| |
– Net interest received |
|
(107,8) |
(56,1) |
(10,9) |
(16,2) |
| |
– Dividends received |
|
(0,4) |
(4,2) |
(466,5) |
(416,4) |
| |
– Depreciation and impairment of property,
plant and equipment |
|
82,4 |
79,3 |
28,2 |
28,1 |
| |
– Amortisation of intangible assets |
|
14,0 |
7,3 |
4,0 |
3,5 |
| |
– Share option expense |
|
15,0 |
14,4 |
4,0 |
7,5 |
| |
– Net loss on disposal of property,
plant and equipment and non-current assets held for
sale |
|
3,9 |
5,2 |
1,9 |
1,0 |
| |
– Surplus on dilution in shareholding
in investment in associate |
|
— |
(1,5) |
— |
— |
| |
– Fair valuation adjustment of financial
instrument – investment in NSN |
|
(299,2) |
— |
(299,2) |
— |
| |
– Other non-cash movements |
|
23,7 |
(0,2) |
20,5 |
(6,0) |
| |
Cash generated
from operations before working capital changes |
|
1
279,4 |
1
678,6 |
370,6 |
639,3 |
| B. |
WORKING CAPITAL CHANGES |
|
|
|
|
|
| |
– Inventory and contracts in progress |
|
293,2 |
(48,6) |
131,3 |
14,2 |
| |
– Accounts receivable, derivative assets
and non-current assets held for sale |
|
283,6 |
(192,6) |
145,0 |
(106,6) |
| |
– Trade and other
payables and derivative liabilities |
|
(62,9) |
(54,0) |
(93,3) |
(41,4) |
| |
Working capital
changes |
|
513,9 |
(295,2) |
183,0 |
(133,8) |
| C. |
RECONCILIATION OF TAXATION PAID
TO THE AMOUNTS DISCLOSED IN THE INCOME STATEMENT
AS FOLLOWS |
|
|
|
|
|
| |
– Net amounts unpaid at the beginning
of the year |
|
(84,4) |
(12,1) |
(36,5) |
14,3 |
| |
– Current taxation per the income statement |
|
(399,5) |
(478,2) |
(99,7) |
(208,9) |
| |
– Taxation provisions of subsidiaries
purchased |
|
— |
(4,9) |
|
|
| |
– Net amounts unpaid
at the end of the year |
|
6,4 |
84,4 |
(21,3) |
36,5 |
| |
Cash amounts
paid |
|
(477,5) |
(410,8) |
(157,5) |
(158,1) |
| D. |
RECONCILIATION OF CASH DIVIDENDS
PAID TO THE AMOUNTS DISCLOSED IN THE STATEMENTS OF
CHANGES IN EQUITY AS FOLLOWS |
|
|
|
|
|
| |
– Dividends unpaid at the beginning
of the year |
|
— |
— |
— |
— |
| |
– Dividends per the statement of changes
in equity |
|
(546,3) |
(567,2) |
(602,9) |
(626,2) |
| |
– Dividends paid to
outside shareholders in subsidiaries |
|
(4,0) |
(1,8) |
— |
— |
| |
Cash amounts
paid |
|
(550,3) |
(569,0) |
(602,9) |
(626,2) |
| E. |
ANALYSIS OF ACQUISITION OF SUBSIDIARIES
AND BUSINESSES |
|
|
|
|
|
| |
Inventory |
|
(9,7) |
(16,0) |
— |
(11,1) |
| |
Accounts receivable |
|
(14,3) |
(245,6) |
— |
(12,8) |
| |
Accounts receivable – RCCF |
|
— |
(1 924,5) |
|
|
| |
Trade and other payables and provisions |
|
5,4 |
40,0 |
— |
10,3 |
| |
Taxation |
|
— |
4,9 |
|
|
| |
Amounts due to bankers and short-term
loans |
|
— |
858,4 |
— |
— |
| |
Property, plant and equipment |
|
(1,4) |
(11,5) |
— |
(6,2) |
| |
Intangible assets |
|
(11,9) |
(10,0) |
— |
(6,0) |
| |
Deferred taxation |
|
— |
50,6 |
— |
— |
| |
Net cash on hand at time of the acquisition |
|
— |
(73,7) |
— |
— |
| |
Long-term liabilities |
|
7,0 |
700,7 |
— |
0,2 |
| |
Goodwill on acquisitions |
|
(44,5) |
(137,1) |
— |
— |
| |
Attributable share of net assets at
date of acquisition (decrease in investment in associates) |
|
— |
279,9 |
|
|
| |
Shares purchased in
existing business |
|
— |
— |
(0,2) |
(437,9) |
| |
Cost of investment |
|
(69,4) |
(483,9) |
(0,2) |
(463,5) |
| |
Net cash on hand at time of
the acquisition |
|
— |
73,7 |
— |
— |
| |
Amounts due to bankers and short-term
loans at time of acquisition |
|
— |
(858,4) |
— |
— |
| |
Loan taken over from the seller |
|
— |
219,0 |
— |
— |
| |
Loans contributed
by non-controlling shareholder |
|
1,0 |
1,0 |
|
|
| |
Net cash paid |
|
(68,4) |
(1
048,6) |
(0,2) |
(463,5) |
|
