| Company |
|
|
Consolidated |
| 15 months to |
12 months to |
|
|
12 months to |
15 months to |
| 31 March |
31 March |
|
|
31 March |
31 March |
| 2010 |
2011 |
|
Rmillion |
2011 |
2010 |
| |
|
|
Cash generated from operations |
|
|
| 678 |
767 |
|
Operating profit before dividends |
1 606 |
3 687 |
| 137 |
105 |
|
Dividends received |
|
|
| 815 |
872 |
|
Operating profit |
1 606 |
3 687 |
| (77) |
(17) |
|
Profit on disposal of property, plant and equipment |
(35) |
(87) |
| |
|
|
Adjustments for: |
|
|
| (53) |
(13) |
|
|
Growing crops and other non-cash flow items |
(622) |
(729) |
| 230 |
151 |
|
|
Depreciation |
344 |
521 |
| |
(288) |
|
|
Defined benefit pension fund asset recognition |
(288) |
|
| |
|
|
|
Zimbabwe consolidation take-on gain |
|
(1 969) |
| (52) |
(40) |
|
Tax payments |
(111) |
(257) |
| 863 |
665 |
|
Cash generated from operations |
894 |
1 166 |
| |
|
|
Cash required by operations |
|
|
| 676 |
277 |
|
Inventories |
11 |
497 |
| 57 |
(84) |
|
Trade and other receivables |
(7) |
57 |
| 432 |
(312) |
|
Trade and other payables |
(216) |
235 |
| 1 165 |
(119) |
|
(Increase)/decrease in working capital |
(212) |
789 |
| 2 028 |
546 |
|
Cash flow from operations |
682 |
1 955 |
| (374) |
(361) |
|
Net financing costs |
(472) |
(452) |
| 1 654 |
185 |
|
Cash flow from operating activities |
210 |
1 503 |
| |
|
|
Cash flows from investing activities |
|
|
| |
|
|
Expenditure on property, plant and equipment |
|
|
| (25) |
(20) |
|
|
- New |
(396) |
(1 416) |
| (195) |
(132) |
|
|
- Replacement |
(323) |
(280) |
| (137) |
(39) |
|
|
- Major plant overhaul costs |
(87) |
(291) |
| (7) |
(26) |
|
Expenditure on intangible assets |
(26) |
(7) |
| 3 |
2 |
|
Capital expenditure on growing crops |
(43) |
(76) |
| 88 |
18 |
|
Proceeds on disposal of property, plant and equipment |
41 |
110 |
| (1 216) |
(5) |
|
Investments - subsidiary |
(5) |
|
| |
|
|
Investments - unlisted |
|
8 |
| (1 489) |
(202) |
|
Net cash used in investing activities |
(839) |
(1 952) |
| 165 |
(17) |
|
Net cash flow before dividends and financing activities |
(629) |
(449) |
| |
|
|
Dividends paid |
|
|
| (366) |
(293) |
|
Ordinary and preferred ordinary shares |
(191) |
(264) |
| |
|
|
Minorities |
(7) |
(19) |
| (366) |
(293) |
|
Dividends paid |
(198) |
(283) |
| (201) |
(310) |
|
Net cash flow before financing activities |
(827) |
(732) |
| |
|
|
Cash flows from financing activities |
|
|
| 513 |
579 |
|
Borrowings raised |
1 103 |
652 |
| |
|
|
Non-recourse equity-settled BEE borrowings |
(26) |
(4) |
| 14 |
6 |
|
Shares issued |
6 |
14 |
| (18) |
(20) |
|
Settlement of share-based payment awards |
(27) |
(22) |
| (314) |
(214) |
|
Inter-group loans |
|
|
| 195 |
351 |
|
Net cash from financing activities |
1 056 |
640 |
| (6) |
41 |
|
Net increase/(decrease) in cash and cash equivalents |
229 |
(92) |
| 38 |
32 |
|
Balance at beginning of year |
140 |
229 |
| |
|
|
Foreign exchange adjustment |
(18) |
(61) |
| |
|
|
Exchange rate translation loss |
(1) |
(5) |
| |
|
|
Consolidation of subsidiaries |
|
69 |
| 32 |
73 |
|
Cash and cash equivalents at end of year |
350 |
140 |
