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