Summarised consolidated statement of cash flows
for the year ended 30 June 2018
R million |
Notes |
|
2018 |
|
2017* |
|
Cash flows from operating activities |
|
|
|
|
|
|
Cash generated by operations before movements in net working capital |
|
|
8 721 |
|
8 388 |
|
Movements in net working capital |
|
|
811 |
|
688 |
|
Cash generated by operations before interest and taxes paid |
|
|
9 532 |
|
9 076 |
|
Net finance cost |
|
|
(1 386) |
|
(1 670) |
|
Tax paid |
|
|
(1 336) |
|
(1 520) |
|
Cash generated by operations before capital expenditure on rental assets |
|
|
6 810 |
|
5 886 |
|
Expansion capital expenditure – rental assets |
|
|
(293) |
|
(1 118) |
|
Net replacement capital expenditure – rental assets |
|
|
(786) |
|
(591) |
|
|
|
|
|
|
|
|
– Expenditure |
|
|
(4 052) |
|
(3 422) |
|
– Proceeds |
|
|
3 266 |
|
2 831 |
|
|
|
|
|
|
|
|
|
|
|
5 731 |
|
4 177 |
|
Cash flows from investing activities |
|
|
|
|
|
|
Acquisition of subsidiaries and businesses |
|
|
(1 211) |
|
(1 706) |
|
Disposal of subsidiaries and businesses |
|
|
2 070 |
|
19 |
|
Net proceeds from sale of fixed assets – excluding rental assets |
|
|
1 248 |
|
45 |
|
Net replacement capital expenditure – excluding rental assets |
|
|
(1 008) |
|
(999) |
|
Net movement in other associates and joint ventures |
|
|
|
|
514 |
|
Net movement in investments, loans and other financial instruments |
|
|
(209) |
|
188 |
|
|
|
|
890 |
|
(1 939) |
|
Cash flows from financing activities |
|
|
|
|
|
|
Hedge cost premium paid |
|
|
(362) |
|
(10) |
|
Settlement of cross-currency swap instruments |
|
|
(152) |
|
|
|
Repurchase of ordinary shares |
|
|
(113) |
|
|
|
Dividends paid |
|
|
(1 478) |
|
(1 688) |
|
Purchase of non-controlling interests |
|
|
(684) |
|
(252) |
|
Capital raised from non-controlling interests |
|
|
223 |
|
149 |
|
Net (decrease) increase in interest-bearing borrowings |
|
|
(4 382) |
|
613 |
|
|
|
|
(6 948) |
|
(1 188) |
|
Net (decrease) increase in cash resources |
|
|
(327) |
|
1 050 |
|
Effects of exchange rate changes on cash resources in a foreign currency |
|
|
129 |
|
(224) |
|
Cash resources at beginning of year |
|
|
4 499 |
|
3 673 |
|
Cash resources at end of year |
11 |
|
4 301 |
|
4 499 |
|
*Restated, refer to note 3.2.