STATEMENTS OF CASH FLOWS
for the year ended 31 March 2013
| Company | Consolidated | |||||
| 2012 | 2013 | Rmillion | 2013 | 2012 | ||
| Cash generated from operations | ||||||
| 650 | 648 | Operating profit before dividends | 2 119 | 1 878 | ||
| 81 | 97 | Dividends received | ||||
| 731 | 745 | Operating profit | 2 119 | 1 878 | ||
| (113) | (59) | Profit on disposal of property, plant and equipment Adjustments for: |
(24) | (10) | ||
| (73) | (148) | Growing crops and other non-cash flow items | (385) | (352) | ||
| 164 | 172 | Depreciation | 472 | 366 | ||
| 709 | 710 | Cash generated from operations | 2 182 | 1 882 | ||
| Cash required by operations | ||||||
| (35) | (74) | Inventories | (264) | (53) | ||
| (64) | (139) | Trade and other receivables | (292) | (454) | ||
| 4 | 243 | Trade and other payables | 500 | (12) | ||
| (95) | 30 | (Increase)/decrease in working capital | (56) | (519) | ||
| 614 | 740 | Cash flow from operations | 2 126 | 1 363 | ||
| (38) | (10) | Tax payments | (239) | (125) | ||
| (367) | (451) | Net financing costs | (560) | (507) | ||
| 209 | 279 | Cash flow from operating activities | 1 327 | 731 | ||
| Cash flows from investing activities | ||||||
| Expenditure on property, plant and equipment | ||||||
| (75) | (119) | New | (447) | (329) | ||
| (163) | (212) | Replacement | (447) | (336) | ||
| 10 | (51) | Major plant overhaul cost changes | (93) | (9) | ||
| (20) | (15) | Expenditure on intangible assets | (15) | (20) | ||
| (57) | (125) | Capital expenditure on growing crops | (157) | (57) | ||
| 116 | 72 | Proceeds on disposal of property, plant and equipment | 40 | 19 | ||
| Investments | (1) | (4) | ||||
| (189) | (450) | Net cash used in investing activities | (1 150) | (736) | ||
| 20 | (171) | Net cash flow before dividends and financing activities | 177 | (5) | ||
| Dividends paid | ||||||
| (383) | (459) | Ordinary and preferred ordinary shares | (347) | (279) | ||
| Minorities | (10) | (9) | ||||
| (383) | (459) | Dividends paid | (357) | (288) | ||
| (363) | (630) | Net cash flow before financing activities | (180) | (293) | ||
| Cash flows from financing activities | ||||||
| 976 | 720 | Borrowings raised | 503 | 516 | ||
| Non-recourse equity-settled BEE borrowings | (15) | (24) | ||||
| 4 | 5 | Shares issued | 5 | 4 | ||
| (24) | (88) | Settlement of share-based payment awards | (94) | (30) | ||
| (629) | 12 | Inter-group loans | ||||
| 327 | 649 | Net cash from financing activities | 399 | 466 | ||
| (36) | 19 | Net increase/(decrease) in cash and cash equivalents | 219 | 173 | ||
| 73 | 37 | Balance at beginning of year | 592 | 350 | ||
| Foreign exchange adjustment | 106 | 69 | ||||
| 37 | 56 | Cash and cash equivalents at end of year | 917 | 592 | ||
