| Company |
|
|
Consolidated |
| 12 months to |
15 months to |
|
|
15 months to |
12 months to |
| 31 December |
31 March |
|
|
31 March |
31 December |
| 2008 |
2010 |
|
Rmillion |
2010 |
2008 |
| |
|
|
Cash generated from operations |
|
|
| 515 |
678 |
|
Operating profit before dividends |
3 687 |
1 137 |
| 329 |
137 |
|
Dividends received |
|
35 |
| 844 |
815 |
|
Operating profit |
3 687 |
1 172 |
| (57) |
(77) |
|
Profit on disposal of property, plant and equipment |
(87) |
(74) |
| |
|
|
Adjustments for: |
|
|
| |
|
|
|
Zimbabwe consolidation take-on gain |
(1 969) |
|
| 35 |
(53) |
|
|
Growing crops and other non-cash flow items |
(729) |
(297) |
| 191 |
230 |
|
|
Depreciation |
521 |
244 |
| (44) |
(52) |
|
Tax payments |
(257) |
(163) |
| 969 |
863 |
|
Cash generated from operations |
1 166 |
882 |
| |
|
|
Cash required by operations |
|
|
| (357) |
676 |
|
Inventories |
497 |
(366) |
| (150) |
57 |
|
Trade and other receivables |
57 |
96 |
| 322 |
432 |
|
Trade and other payables |
235 |
353 |
| (185) |
1 165 |
|
Decrease/(increase) in working capital |
789 |
83 |
| 784 |
2 028 |
|
Cash flow from operations |
1 955 |
965 |
| (234) |
(374) |
|
Net financing costs |
(452) |
(280) |
| 550 |
1 654 |
|
Cash flow from operating activities |
1 503 |
685 |
| |
|
|
Cash flows from investing activities |
|
|
| |
|
|
Expenditure on property, plant and equipment |
|
|
| (236) |
(25) |
|
- New |
(1 416) |
(1 317) |
| (186) |
(195) |
|
- Replacement |
(280) |
(221) |
| (38) |
(137) |
|
- Major plant overhaul costs |
(291) |
(38) |
| (1) |
(7) |
|
Expenditure on intangible assets |
(7) |
(2) |
| (3) |
3 |
|
Growing crops |
(76) |
(167) |
| 78 |
88 |
|
Proceeds on disposal of property, plant and equipment |
110 |
96 |
| (699) |
(1 216) |
|
Investments - subsidiary |
|
(55) |
| |
|
|
Investments - unlisted |
8 |
|
| 7 |
|
|
Long-term receivable and prepayment |
|
7 |
| (1 078) |
(1 489) |
|
Net cash used in investing activities |
(1 952) |
(1 697) |
| (528) |
165 |
|
Net cash flow before dividends and financing activities |
(449) |
(1 012) |
| |
|
|
Dividends paid |
|
|
| (438) |
(366) |
|
Ordinary and preferred ordinary shares |
(264) |
(336) |
| |
|
|
Minorities |
(19) |
(19) |
| (438) |
(366) |
|
Dividends paid |
(283) |
(355) |
| (966) |
(201) |
|
Net cash flow before financing activities |
(732) |
(1 367) |
| |
|
|
Cash flows from financing activities |
|
|
| 1 052 |
513 |
|
Borrowings raised |
652 |
1 160 |
| |
|
|
Non-recourse equity-settled BEE borrowings |
(4) |
(20) |
| 7 |
14 |
|
Shares issued |
14 |
7 |
| (9) |
(18) |
|
Settlement of share-based payment awards |
(22) |
(11) |
| (67) |
(314) |
|
Inter-group loans |
|
|
| 983 |
195 |
|
Net cash from financing activities |
640 |
1 136 |
| 17 |
(6) |
|
Net (decrease)/increase in cash and cash equivalents |
(92) |
(231) |
| 21 |
38 |
|
Balance at beginning of period |
229 |
396 |
| |
|
|
Foreign exchange adjustment |
(61) |
55 |
| |
|
|
Exchange rate translation (loss)/gain |
(5) |
9 |
| |
|
|
Consolidation of subsidiaries |
69 |
|
| 38 |
32 |
|
Cash and cash equivalents at end of period |
140 |
229 |
