| |
GROUP |
COMPANY |
| |
2002 |
2001 |
2002 |
2001 |
| |
Rm |
Rm |
Rm |
Rm |
|
A. RECONCILIATION OF NET PROFIT
BEFORE TAXATION
TO OPERATING PROFIT
BEFORE WORKING CAPITAL CHANGES |
|
|
|
|
|
Profit before taxation |
489,9 |
438,3 |
359,1 |
348,0 |
|
Adjusted for: |
|
|
|
|
| Net interest received |
(33,1) |
(51,4) |
(0,3) |
(12,6) |
| Dividends received |
(3,4) |
(7,7) |
(151,1) |
(144,8) |
| Depreciation |
46,2 |
43,8 |
19,0 |
16,0 |
| Amortisation of goodwill |
41,4 |
2,3 |
4,7 |
1,0 |
| (Surplus)/deficit on disposal of plant, vehicles |
| and equipment |
(2,1) |
(1,1) |
(0,1) |
1,4 |
| Provision against investments in subsidiaries |
|
|
(10,1) |
(1,6) |
| Net creation/(reversal) of provisions |
14,6 |
(10,9) |
4,8 |
(0,8) |
| Other movements |
18,7 |
0,8 |
|
(0,7) |
| OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES |
572,2 |
414,1 |
226,0 |
205,9 |
| |
|
|
|
|
|
|
B. WORKING CAPITAL CHANGES
|
|
|
|
|
| Inventory and contracts in progress |
(161,5) |
(53,5) |
(121,5) |
(49,1) |
| Accounts receivable |
(118,0) |
(71,3) |
66,1 |
8,9 |
| Accounts payable and provisions |
122,3 |
73,8 |
122,9 |
17,2 |
| WORKING CAPITAL CHANGES |
(157,2) |
(51,0) |
67,5 |
(23,0) |
| |
|
|
|
|
|
C. TAXATION PAID IS RECONCILED TO
THE AMOUNTS
DISCLOSED IN THE
INCOME STATEMENT AS FOLLOWS: |
|
|
|
|
| Net amounts unpaid, at beginning of year |
(110,5) |
(95,8) |
(49,3) |
(44,3) |
| Current taxation per the income statement |
(163,9) |
(147,7) |
(79,1) |
(44,1) |
| Net amounts unpaid, at end of year |
65,4 |
110,5 |
33,6 |
49,3 |
| CASH AMOUNTS PAID |
(209,0) |
(133,0) |
(94,8) |
(39,1) |
|
THE AMOUNTS DISCLOSED IN THE
STATEMENT OF
CHANGES IN EQUITY
AS FOLLOWS: |
|
|
|
|
| Charge per the statement of changes in equity |
(181,4) |
(156,5) |
(198,1) |
(163,2) |
| Dividends paid to outside shareholders |
(19,6) |
(12,5) |
|
|
| CASH AMOUNTS PAID |
(201,0) |
(169,0) |
(198,1) |
(163,2) |
| |
|
|
|
|
|
|
E. ANALYSIS OF DISPOSAL OF BUSINESSES |
|
|
|
|
| Inventory |
0,5 |
|
0,5 |
|
| Accounts receivable |
0,5 |
| 1,5 |
|
| Accounts payable |
(0,2) |
|
(0,2) |
|
| Cash on hand at time of disposal |
0,2 |
|
0,2 |
|
| Cash amounts received |
1,0 |
|
1,0 |
|
| Less: Cash on hand at time of disposal |
(0,2) |
|
(0,2) |
|
| NET CASH RECEIVED |
0,8 |
|
0,8 |
|
| |
|
|
|
|
|
|
F. ANALYSIS OF ACQUISITION OF
SUBSIDIARIES AND BUSINESSES |
|
|
|
|
| |
|
|
|
|
| Inventory |
(1,7) |
(25,9) |
(1,7) |
(23,7) |
| Accounts receivable |
|
(5,1) |
|
|
| Accounts payable |
(4,1) |
1,8 |
|
|
| Property, plant and equipment |
(1,3) |
(1,5) |
(1,3) |
|
| Attributable share of net assets at date of acquisition |
(60,4) |
|
(56,6) |
|
| Goodwill on acquisitions |
(390,5) |
(13,2) |
(383,6) |
(2,0) |
| Increased capital of subsidiary |
|
|
(5,0) |
(145,0) |
| CASH AMOUNTS PAID |
(458,0) |
(43,9) |
(448,2) |
(170,7) |
| CASH PAID IN CURRENT YEAR, OWING FROM PRIOR YEAR |
(3,2) |
|
|
|
| AMOUNTS STILL OWING TO VENDORS |
21,2 |
3,2 |
21,2 |
|
| NET CASH PAID |
(440,0) |
(40,7) |
(427,0) |
(170,7) |
| |
|
|
|
|
|
