Condensed consolidated statement of cash flows

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   Six months ended    
   30 June 2018
Unaudited 
R'00
 
   30 June 2017 
Reviewed 
R'00 
  
              
Profit before taxation  589 802     676 674    
Finance expense  13 850     25 942    
Finance income  (11 030)    (2 161)   
Depreciation and amortisation  203 629     164 938    
Movement in provisions  21 119     —    
Embedded derivative (income)/expense  (34 792)    190 304    
Vesting and payment of share grants  (5 077)    (11 057)   
Adjusted for non-cash items  1 428     2 813    
Adjusted for working capital changes  (584 711)    (469 375)   
Cash flows from operations  194 218     578 078    
Interest paid  (311)    (20 044)   
Interest received  9 575     1 754    
Tax paid  (115 458)    (75 177)   
Cash flows from operating activities  88 024     484 611    
Cash flows from investing activities  (174 228)    (142 052)   
Acquisition of property, plant and equipment – expansionary  (188)    (785)   
Acquisition of property, plant and equipment – sustaining  (174 040)    (141 267)   
Cash flows from financing activities  (226 465)    (464 049)   
Dividend paid  (225 963)    (100 428)   
Repayment of borrowings  (502)    (363 621)   
Net decrease in cash and cash equivalents  (312 669)    (121 490)   
Cash and cash equivalents at the beginning of the period  671 655     263 305    
Effect of exchange rate fluctuations on cash held  (27 958)    (19 431)   
Cash and cash equivalents at the end of the period  331 0284     122 384    

4Closing balance of cash and cash equivalents is net of bank overdraft of R10.2m.