Summarised consolidated statement of cash flows

for the year ended 30 June

   2017 
Audited 
R'000 
      2016 
Audited 
R'000 
  
Cash flows from operating activities 2 816 458        3 148 537     
   Operating profit  6 877 150        4 430 125    
   Dividends from associates  114 494        138 689    
   Acquisition costs  24 230        8 416    
   Depreciation and amortisation  1 641 568        1 586 940    
   Remeasurement to recoverable fair value of associates  (1 144 633)       760 764    
   Other non-cash items  (265 154)       (187 742)   
   Cash generated by operations before changes in working capital  7 247 655        6 737 192    
   Changes in working capital  (367 886)       296 577    
   Cash generated by operations  6 879 769        7 033 769    
   Net finance charges paid  (1 030 415)       (851 371)   
   Taxation paid  (1 373 927)       (1 191 426)   
   Dividends paid by – Company  (1 529 585)       (3 149 552)   
  – Subsidiaries 
(129 384)       (128 194)   
   Net operating cash flows from discontinued operations  –        1 435 311    
Cash effects of investment activities  (1 621 011)       (5 646 310)   
   Net disposals (additions) to vehicle rental fleet  107 399        (77 995)   
   Net additions to property, plant and equipment  (1 895 257)       (2 404 062)   
   Net additions to intangible assets  (141 066)       (113 525)   
   Net disposal (acquisition) of subsidiaries, businesses, associates and investments  307 913        (786 872)   
   Net investing cash flows from discontinued operations  –        (2 263 856)   
Cash effects of financing activities  (21 223)       1 577 560    
   Proceeds from shares issued  –        82 506    
   Disposal of treasury shares  274 229        1 265 277    
   Borrowings raised  2 902 588        2 434 616    
   Borrowings repaid  (3 198 040)       (3 376 015)   
   Net financing cash flows from discontinued operations  –        1 171 176   
Net increase (decrease) in cash and cash equivalents  1 174 224        (920 213)   
Net cash and cash equivalents at the beginning of the year  2 706 226        5 818 512    
Exchange rate adjustment from continuing operations  5 967        9 686    
Exchange rate adjustment from discontinued operations  –        814 703    
Cash disposed as part of Foodservices division unbundling  –        (3 016 462)   
Net cash and cash equivalents at end of the year  3 886 417        2 706 226    
Net cash and cash equivalents comprise:                
   Cash and cash equivalents  5 132 550        3 911 927    
   Bank overdrafts shown as short-term portion of interest-bearing debt  (1 246 133)       (1 205 701)   
   3 886 417        2 706 226