| |
Year ended
31 December 2012
Audited
R’000 |
|
Year ended
31 December 2011
Audited
R’000 |
|
| Profit before taxation |
76 349 |
|
205 147 |
|
| Interest paid |
29 302 |
|
32 853 |
|
| Interest received |
(9 642) |
|
(11 288) |
|
| Depreciation and impairment |
217 641 |
|
153 113 |
|
| Adjusted for non-cash items |
2 088 |
|
7 368 |
|
| Adjusted for working capital changes |
(31 747) |
|
(43 113) |
|
| Cash flows from operations |
283 991 |
|
344 080 |
|
| Interest paid |
(29 302) |
|
(29 186) |
|
| Interest received |
9 642 |
|
10 383 |
|
| Tax paid |
(7 285) |
|
(30 157) |
|
| Cash flows from operating activities |
257 046 |
|
295 120 |
|
| Cash flows from investing activities |
(603 210) |
|
(404 404) |
|
| Proceeds on disposal of property, plant and equipment |
16 |
|
– |
|
| Acquisition of property, plant and equipment – sustaining |
(179 658) |
|
(173 603) |
|
| Acquisition of property, plant and equipment – expansionary |
(423 568) |
|
(230 801) |
|
| Cash flows from financing activities |
211 094 |
|
(44 974) |
|
| Dividends paid |
– |
|
(49 533) |
|
| Secondary tax on companies paid |
– |
|
(4 511) |
|
| Proceeds from issue of shares |
– |
|
9 078 |
|
| Increase/(decrease) in non-current borrowings |
211 094 |
|
(8) |
|
| |
|
|
|
|
| Net decrease in cash and cash equivalents |
(135 070) |
|
(154 258) |
|
| Cash and cash equivalents at the beginning of the year |
220 459 |
|
320 724 |
|
| Effect of exchange rate fluctuations on cash held |
(2 746) |
|
53 993 |
|
| Cash and cash equivalents at the end of the year |
82 643 |
|
220 459 |
|
