Consolidated statement of cash flowsfor the year ended 30 June 2013
GROUP | COMPANY | ||||
2013 R’000 |
2012 R’000 |
Notes | 2013 R’000 |
2012 R’000 |
|
Operating activities | |||||
344 657 | 347 370 | Profit before tax | 19 025 | 207 447 | |
344 657 | 347 370 | Profit before tax | 19 025 | 207 447 | |
Adjustments to reconcile profit before tax to net cash flow |
|||||
Adjustment for non-cash items: | |||||
94 013 | 93 496 | Depreciation and impairment of property, plant and equipment |
1 | 1 | |
11 730 | 8 774 | Amortisation and impairment of intangible assets | |||
114 | 46 | Depreciation of investment properties | |||
(4 017) | 4 885 | (Profit)/Loss on financial instruments | |||
(6 531) | (6 447) | Foreign exchange profit | |||
(16 747) | – | Gain on fair valuing of existing investment in joint venture due to gaining control | |||
7 422 | 1 235 | Movement in provisions | |||
18 407 | 13 115 | Share-based payment reserve provision | |||
(11 680) | (878) | Profit on disposal and scrapping of assets | |||
4 377 | 4 796 | Impairment of plant included in restructuring cost | |||
(5 373) | (1 174) | Foreign exchange differences on fixed assets | |||
Other adjustments: | |||||
56 437 | 52 460 | Finance cost | 6.6 | 20 346 | 22 023 |
(9 706) | (28 598) | Finance income | 6.5 | (5 408) | (8 741) |
– | – | Dividends received | – | (190 000) | |
(65 981) | (44 519) | Taxes | 26 | (12 119) | (17 707) |
Working capital adjustments | |||||
(123 759) | (141 806) | Increase in inventories | |||
41 938 | (127 901) | Increase/(Decrease) in trade and other receivables | 263 765 | (101 866) | |
(99 338) | 243 056 | (Decrease)/Increase in trade and other payables | 9 665 | 6 582 | |
235 963 | 417 910 | Net cash flow from/(used in) operating activities | 295 275 | (82 261) |
GROUP | COMPANY | ||||
2013 R’000 |
2012 R’000 |
Notes | 2013 R’000 |
2012 R’000 |
|
Investing activities | |||||
17 599 | 4 181 | Proceeds from sale of property, plant and equipment | |||
6 531 | 6 447 | Foreign exchange profit | |||
9 706 | 28 598 | Interest received | 6.5 | 5 408 | 8 741 |
(70 556) | – | Acquisition of Real Juice Co Holdings | 3.1 | – | |
– | – | Dividends received | – | 190 000 | |
– | (20 792) | Acquisition of non-controlling interest | |||
(24 700) | – | Acquisition of additional interest in Clover Manhattan | 3.2 | ||
(434 340) | (254 309) | Capital expenditure: tangible assets | |||
(20 060) | (19 373) | Capital expenditure: intangible assets | |||
(272) | (902) | Foreign currency translation reserve | |||
(516 092) | (256 150) | Net cash flows (used in)/from investing activities | 5 408 | 198 741 | |
Financing activities | |||||
(56 437) | (52 460) | Interest paid | 6.6 | (20 346) | (22 023) |
(41 912) | (53 734) | Dividends paid | (41 912) | (53 734) | |
(720) | (269) | Dividends paid to non-controlling interest holders | – | ||
(10 435) | (4 440) | Share appreciation rights paid out | – | ||
(259 382) | – | Repayment of preference share liability | (259 382) | – | |
(158 396) | (169 974) | Repayment of borrowings | – | ||
814 003 | 6 375 | Proceeds from borrowings | – | ||
286 721 | (274 502) | Net cash flows from/(used in) financing activities | (321 640) | (75 757) | |
6 592 | (112 742) | Net increase/(decrease) in cash and cash equivalents | (20 957) | 40 723 | |
711 470 | 824 212 | Cash and cash equivalents at the beginning of the year | 42 955 | 2 232 | |
718 062 | 711 470 | Cash and cash equivalents at the end of the year | 18 | 21 998 | 42 955 |