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GROUP |
COMPANY |
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2004 |
2003 |
2004 |
2003 |
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Notes |
Rm |
Rm |
Rm |
Rm |
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| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
| Cash generated from operations before | ||||||
| working capital changes | A |
806,1 |
709,5 |
333,3 |
256,1 |
|
| Reduction/(increase) in net working capital | 804,5 |
(59,3) |
60,7 |
143,5 |
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| Movement in RC&C Finance Company | ||||||
| accounts receivable | ||||||
| – Increase in RC&C Finance Company | ||||||
| accounts receivable | (564,0) |
(269,8) |
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| – Sale of debtors book in December 2003 | 1 255,5 |
|||||
| Working capital changes | B |
113,0 |
210,5 |
60,7 |
143,5 |
|
| Cash generated from operations | 1 610,6 |
650,2 |
394,0 |
399,6 |
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| Interest received | 47,8 |
95,1 |
20,2 |
26,1 |
||
| Interest paid | (10,1) |
(50,1) |
(1,6) |
(11,4) |
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| Dividends received | 27,4 |
0,2 |
394,5 |
253,1 |
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| Taxation paid | C |
(313,5) |
(178,7) |
(110,1) |
(69,0) |
|
| Dividends paid (including outside shareholders) | D |
(268,1) |
(258,4) |
(265,5) |
(246,9) |
|
| Net cash inflow from operating activities | 1 094,1 |
258,3 |
431,5 |
351,5 |
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| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
| Investments to maintain operating capacity | 18,0 |
(15,6) |
524,3 |
(385,0) |
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| – Repayment of non-current loans | 4,8 |
0,9 |
4,8 |
0,9 |
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| – Non-current loans granted | (0,5) |
(3,3) |
(0,4) |
(3,3) |
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| – Replacement of fixed assets | (20,1) |
(17,5) |
(12,9) |
(12,0) |
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| – Proceeds on disposal of fixed assets, | ||||||
| investments and other capital items | 33,8 |
4,3 |
0,3 |
3,8 |
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| – Net loans from/(to) subsidiaries | 532,5 |
(374,4) |
||||
| Investments to increase operating capacity | (268,1) |
(87,2) |
(237,5) |
(21,6) |
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| – Expansion capital expenditure | (28,7) |
(27,1) |
(16,2) |
(4,0) |
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| – Increase in investments | (4,9) |
– |
(47,8) |
– |
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| – Disposal of businesses | – |
1,2 |
– |
– |
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| – Acquisition of subsidiaries and businesses | E |
(234,5) |
(61,3) |
(173,5) |
(17,6) |
|
| Net cash (outflow)/inflow from | ||||||
| investing activities | (250,1) |
(102,8) |
286,8 |
(406,6) |
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| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
| Funds provided by shareholders | ||||||
| –Ordinary shareholders in Reunert | 18,7 |
11,0 |
18,7 |
11,0 |
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| Funds repaid to shareholders | ||||||
| – Share buy-back (capital and dividend portion) |
(429,2) |
– |
(429,2) |
– |
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| – Reunert shares purchased by a subsidiary |
(47,4) |
– |
||||
| – Loan repaid to outside shareholder | – |
(2,1) |
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| Long-term liabilities – repaid | – |
(26,4) |
– |
– |
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| Net cash (outflow)/inflow from financing activities |
(457,9) |
(17,5) |
|
(410,5) |
11,0 |
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| NET INCREASE/(DECREASE) IN CASH | ||||||
| AND CASH EQUIVALENTS | 386,1 |
138,0 |
307,8 |
(44,1) |
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| CASH AND CASH EQUIVALENTS AT | ||||||
| BEGINNING OF YEAR | (419,3) |
(557,3) |
36,0 |
80,1 |
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| CASH AND CASH EQUIVALENTS AT | ||||||
| END OF YEAR* | (33,2) |
(419,3) |
343,8 |
36,0 |
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| Net cash flows from operating activities | ||||||
| before dividends paid and excluding | ||||||
| movements in RC&C Finance | ||||||
| Company accounts receivable | 670,7 |
786,5 |
||||
| Operating cash flow per share (cents) | 353,2 |
417,7 |
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| * CASH AND CASH EQUIVALENTS ARE | ||||||
| MADE UP OF: | ||||||
| Cash and cash equivalents | 451,3 |
484,8 |
346,5 |
37,7 |
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| Short-term loans and bank overdrafts | (170,4) |
(3,4) |
(2,7) |
(1,7) |
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| Net cash resources of the group/company | ||||||
| excluding RC&C Finance Company | 280,9 |
481,4 |
343,8 |
36,0 |
||
| RC&C Finance Company | ||||||
| short-term borrowings | (314,1) |
(900,7) |
||||
| Net (borrowings)/cash and cash equivalents | (33,2) |
(419,3) |
343,8 |
36,0 |
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