| Group |
|
|
|
Company |
| 2012 |
2011 |
|
|
|
2012 |
2011 |
| R’000 |
R’000 |
|
|
Notes |
R’000 |
R’000 |
| |
|
|
Operating activities |
|
|
|
| 347 370 |
281 568 |
|
Profit before tax |
|
207 447 |
458 513 |
| 347 370 |
281 568 |
|
Profit before tax |
|
207 447 |
458 513 |
| |
|
|
Adjustments to reconcile profit before tax to net cash flow |
|
|
|
| |
|
|
Adjustment for non-cash items: |
|
|
|
| 93 496 |
90 165 |
|
Depreciation and impairment of property, plant and equipment |
|
1 |
11 |
| 8 774 |
8 131 |
|
Amortisation and impairment of intangible assets |
|
|
|
| 46 |
49 |
|
Depreciation of investment properties |
|
|
|
| 4 885 |
– |
|
Net movement in financial instruments |
|
|
|
| (6 447) |
1 258 |
|
Foreign exchange (profit)/loss |
|
|
|
| 1 235 |
5 771 |
|
Movement in provisions |
|
|
|
| 13 115 |
11 192 |
|
Share-based payment reserve provision |
|
|
|
| (878) |
(4 255) |
|
Profit on disposal and scrapping of assets |
|
|
|
| 4 796 |
1 780 |
|
Impairment of plant included in restructuring cost |
|
|
|
| (1 174) |
1 666 |
|
Foreign exchange differences on fixed assets |
|
|
|
| |
|
|
Other adjustments: |
|
|
|
| 52 460 |
62 065 |
|
Finance cost |
6.6 |
22 023 |
32 943 |
| (28 598) |
(24 625) |
|
Finance income |
6.5 |
(8 741) |
(6 624) |
| |
|
|
Dividends received |
|
(190 000) |
(461 012) |
| |
|
|
Working capital adjustments: |
|
|
|
| (141 806) |
5 747 |
|
(Increase)/decrease in inventories |
|
|
|
| (127 901) |
(81 841) |
|
Increase in trade and other receivables |
|
(101 866) |
(420 855) |
| 241 505 |
(46 491) |
|
Increase/(decrease) in trade and other payables |
|
5 583 |
(476 478) |
| (44 519) |
(55 264) |
|
Taxes |
26 |
(17 707) |
(18 444) |
| 416 359 |
256 916 |
|
Net cash flow from/(used in) operating activities |
|
(83 260) |
(891 946) |
| |
|
|
Investing activities |
|
|
|
| 4 181 |
10 676 |
|
Proceeds from sale of property, plant and equipment |
|
– |
7 |
| 6 447 |
(1 258) |
|
Foreign exchange profit/(loss) |
|
|
|
| 28 598 |
24 625 |
|
Interest received |
6.5 |
8 741 |
6 624 |
| – |
– |
|
Dividends received |
|
190 000 |
461 012 |
| – |
(49 387) |
|
Goodwill purchased through the buyout of Clover Beverages non-controlling interests |
|
|
|
| (20 792) |
(21 045) |
|
Aquisition of non-controlling interest |
|
|
|
| (254 309) |
(197 529) |
|
Capital expenditure: tangible assets |
|
|
|
| (19 373) |
(18 797) |
|
Capital expenditure: intangible assets |
|
|
|
| (902) |
(596) |
|
Foreign currency translation reserve |
|
|
|
| (256 150) |
(253 311) |
|
Net cash flows (used in)/from investing activities |
|
198 741 |
467 643 |
| |
|
|
Financing activities |
|
|
|
| (52 460) |
(62 065) |
|
Interest paid |
6.6 |
(22 023) |
(32 943) |
| (53 734) |
(58 720) |
|
Dividends paid |
|
(53 734) |
(58 720) |
| 1 551 |
– |
|
Dividends forfeited |
|
999 |
|
| (269) |
2 380 |
|
(Decrease)/increase in non-controlling interest |
|
|
|
| (4 440) |
– |
|
Share appreciation rights paid out |
|
|
|
| – |
577 335 |
|
Proceeds from issue of ordinary shares |
|
– |
577 335 |
| – |
(14 807) |
|
Transaction cost on issue of shares |
|
– |
(14 807) |
| (169 974) |
(52 790) |
|
Repayment of borrowings |
|
– |
(44 427) |
| 6 375 |
– |
|
Proceeds from borrowings |
|
|
|
| (272 951) |
391 333 |
|
Net cash flows (used)/from in financing activities |
|
(74 758) |
426 438 |
| (112 742) |
394 938 |
|
Net (decrease)/increase in cash and cash equivalents |
|
40 723 |
2 135 |
| 824 212 |
429 274 |
|
Cash and cash equivalents at the beginning of the year |
|
2 232 |
97 |
| 711 470 |
824 212 |
|
Cash and cash equivalents at the end of the year |
18 |
42 955 |
2 232 |
