Condensed consolidated statement of cash flows

FOR THE SIX MONTHS ENDED 31 DECEMBER 2015

 

  Note   %
change		   Unaudited
Six months
ended
31 December
2015
Rm		   Restated
Six months
ended
31 December
2014*
Rm		   Restated
Financial year
ended
30 June
2015*
Rm		  
Cash flows from operating activities                    
Cash generated by operations before movements in net working capital         4 485   4 357   9 049  
Movements in net working capital         (1 194)   (1 069)   9  
Cash generated by operations before capital expenditure on rental assets         3 291   3 288   9 058  
Expansion capital expenditure – rental assets         (504)   (851)   (772)  
Net replacement capital expenditure – rental assets         (1 057)   (497)   (759)  
–  Expenditure         (2 330)   (1 351)   (2 496)  
–  Proceeds         1 273   854   1 737  
Cash generated by operations     (11)   1 730   1 940   7 527  
Net finance cost paid         (696)   (580)   (1 180)  
Tax paid         (945)   (451)   (1 301)  
      (90)   89   909   5 046  
Cash flows from investing activities                    
Net disposals (acquisitions) of subsidiaries and businesses         726   (905)   (938)  
Expansion capital expenditure – excluding rental assets         (917)   (806)   (1 743)  
Net replacement capital expenditure – excluding rental assets         (584)   (611)   (1 245)  
Net movement in associates and joint ventures         (114)   25   178  
Net movement in investments, loans and other financial instruments         71   (997)   (1 203)  
          (818)   (3 294)   (4 951)  
Cash flows from financing activities                    
Hedge cost premium paid         (145)   (118)   (128)  
Ordinary shares repurchased         (74)   (56)   (56)  
Dividends paid         (1 030)   (917)   (1 724)  
Change in non-controlling interests         (355)   (32)   (90)  
Capital raised from non-controlling interests         24       1  
Net increase in other interest-bearing borrowings         1 071   1 659   831  
          (509)   536   (1 166)  
Net decrease in cash and cash equivalents         (1 238)   (1 849)   (1 071)  
Effects of exchange rate changes on cash resources in foreign currencies         314   (6)   7  
Cash and cash equivalents at beginning of period         38   1 102   1 102  
Cash and cash equivalents at end of period 9   (18)   (886)   (753)   38  
* Restated for the application of the change in accounting policy (see note 2.1). The original 30 June 2015 amounts were audited, the 31 December 2014 amounts and the restatements have not been audited