Cash
flow statements
for the year ended 30 September 2005
| Group | Company | ||||
| 2005 | 2004 | 2005 | 2004 | ||
| Notes | Rm | Rm | Rm | Rm | |
| Cash flows from operating activities | |||||
| Cash generated from operations before working capital | |||||
| changes | A | 989,6 | 806,1 | 457,7 | 333,3 |
| (Increase) / decrease in net working capital | (600,7) | 804,5 | (50,3) | 60,7 | |
| Movement in RC&C Finance Company accounts receivable | |||||
| – Increase in RC&C Finance Company accounts receivable | (499,7) | (564,0) | |||
| – Sale of debtors book in December 2003 | – | 1 255,5 | |||
| Working capital changes | B | (101,0) | 113,0 | (50,3) | 60,7 |
| Cash generated from operations | 388,9 | 1 610,6 | 407,4 | 394,0 | |
| Interest received | 60,7 | 47,8 | 25,3 | 20,2 | |
| Interest paid | (23,3) | (10,1) | (7,1) | (1,6) | |
| Dividends received (including from associate) | 82,0 | 27,4 | 307,4 | 394,5 | |
| Taxation paid | C | (364,9) | (313,5) | (169,3) | (110,1) |
| Dividends paid (including to outside shareholders | |||||
| in subsidiaries) | D | (307,1) | (268,1) | (331,3) | (265,5) |
| Net cash (outflow) / inflow from operating activities | (163,7) | 1 094,1 | 232,4 | 431,5 | |
| Cash flows from investing activities | |||||
| Investments to maintain operating capacity | (18,0) | 18,0 | (454,2) | 524,3 | |
| – Repayment of non-current loans | 3,1 | 4,8 | 3,1 | 4,8 | |
| – Non-current loans granted | (8,2) | (0,5) | (8,2) | (0,4) | |
| – Replacement of property, plant and equipment | (32,4) | (20,1) | (16,0) | (12,9) | |
| – Proceeds on disposal of property, plant and equipment, | |||||
| investments and other capital items | 19,5 | 33,8 | 18,7 | 0,3 | |
| – Net loans (to) / from subsidiaries | (451,8) | 532,5 | |||
| Investments to increase operating capacity | (25,8) | (268,1) | (132,9) | (237,5) | |
| – Expansion capital expenditure | (22,6) | (28,7) | (6,9) | (16,2) | |
| – Increase in investments | – | (4,9) | (134,1) | (47,8) | |
| – Disposal of subsidiaries and businesses | E | – | – | 11,3 | – |
| – Acquisition of subsidiaries and businesses | F | (3,2) | (234,5) | (3,2) | (173,5) |
| Net cash (outflow) / inflow from investing activities | (43,8) | (250,1) | (587,1) | 286,8 | |
| Group | Company | |||||||
| 2005 | 2004 | 2005 | 2004 | |||||
| Rm | Rm | Rm | Rm | |||||
| Cash flows from financing activities | ||||||||
| Funds provided by shareholders | ||||||||
| – Ordinary shareholders in Reunert | 26,7 | 18,7 | 26,7 | 18,7 | ||||
| Funds repaid to shareholders | ||||||||
| – Share buyback (capital and dividend portion) | – | (429,2) | – | (429,2) | ||||
| – Reunert shares purchased by a subsidiary | – | (47,4) | – | – | ||||
| Long-term borrowings – raised | 130,0 | – | 130,0 | – | ||||
| Net cash inflow / (outflow) from financing activities | 156,7 | (457,9) | 156,7 | (410,5) | ||||
| Net (decrease) / increase in cash and cash equivalents | (50,8) | 386,1 | (198,0) | 307,8 | ||||
| Net (borrowings) / cash and cash equivalents at the | ||||||||
| beginning of the year | (33,2) | (419,3) | 343,8 | 36,0 | ||||
| Net (borrowings) / cash and cash equivalents at the end of the year* | (84,0) | (33,2) | 145,8 | 343,8 | ||||
| * Net (borrowings) / cash and cash equivalents are made up of: | ||||||||
| Cash and cash equivalents | 784,4 | 451,3 | 145,8 | 346,5 | ||||
| Bank overdrafts | (1,6) | (170,4) | – | (2,7) | ||||
| Net cash resources of the group/company excluding | ||||||||
| RC&C Finance Company | 782,8 | 280,9 | 145,8 | 343,8 | ||||
| RC&C Finance Company short-term borrowings | (866,8) | (314,1) | ||||||
| Net (borrowings) / cash and cash equivalents | (84,0) | (33,2) | 145,8 | 343,8 | ||||
| Net cash flows from operating activities before dividends | ||||||||
| paid and excluding movements in RC&C Finance Company | ||||||||
| accounts receivable | 643,1 | 670,7 | ||||||
| Operating cash flow per share (cents) | 370,9 | 353,2 |
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