Condensed consolidated statement of cash flows
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for the six months ended 31 December 2017
| R million | Note |
% change |
Unaudited six months ended 31 December 2017 |
Unaudited six months ended 31 December 2016* |
Audited financial year ended 30 June 2017* |
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| Cash flows from operating activities | |||||||||||
| Cash generated by operations before movements in net working capital | 4 231 | 4 330 | 8 388 | ||||||||
| Movements in net working capital | (208) | (2 379) | 688 | ||||||||
| Cash generated by operations before interest and taxes paid | 106 | 4 023 | 1 951 | 9 076 | |||||||
| Net finance cost paid | (753) | (823) | (1 670) | ||||||||
| Tax paid | (567) | (660) | (1 520) | ||||||||
| Cash generated by operations before capital expenditure on rental assets | 2 703 | 468 | 5 886 | ||||||||
| Expansion capital expenditure – rental assets | (417) | (1 026) | (1 118) | ||||||||
| Net replacement capital expenditure – rental assets | (744) | (373) | (591) | ||||||||
| – Expenditure | (2 312) | (1 451) | (3 422) | ||||||||
| – Proceeds | 1 568 | 1 078 | 2 831 | ||||||||
| Cash generated by operations after capital expenditure on rental assets | 1 542 | (931) | 4 177 | ||||||||
| Cash flows from investing activities | |||||||||||
| Net acquisitions of subsidiaries and businesses | (1 042) | (1 671) | (1 687) | ||||||||
| Net expansion capital inflow (expenditure) – excluding rental assets | 394 | (471) | 45 | ||||||||
| Net replacement capital expenditure – excluding rental assets | (659) | (546) | (999) | ||||||||
| Net movement in associates and joint ventures | (204) | 542 | 514 | ||||||||
| Net movement in investments, loans and other financial instruments | (312) | (109) | 188 | ||||||||
| (1 823) | (2 255) | (1 939) | |||||||||
| Cash flows from financing activities | |||||||||||
| Hedge cost premium paid | (357) | (3) | (10) | ||||||||
| Ordinary shares repurchased | (113) | ||||||||||
| Dividends paid | (781) | (991) | (1 688) | ||||||||
| Purchase of non–controlling interests | (705) | (89) | (252) | ||||||||
| Capital raised from non–controlling interests | 223 | 150 | 149 | ||||||||
| Settlement of cross currency swap instruments | (200) | ||||||||||
| Net increase in interest–bearing borrowings* | 570 | 4 386 | 613 | ||||||||
| (1 363) | 3 453 | (1 188) | |||||||||
| Net (decrease) increase in cash resources | (1 644) | 267 | 1 050 | ||||||||
| Effects of exchange rate changes on cash resources in foreign currencies | (31) | (222) | (224) | ||||||||
| Cash resources at beginning of period* | 4 499 | 3 673 | 3 673 | ||||||||
| Cash resources at end of period* | 9 | (24) | 2 824 | 3 718 | 4 499 | ||||||
| * | Restated. Refer to note 3.2. The restatement to June 2017 has not been audited. |