Unaudited interim results
for the six months ended
31 December 2020

Condensed consolidated statement of cash flows
for the six months ended 31 December 2020



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R million  Six months 
ended 
December 
2020 
Six months 
ended 
December 
2019 
   Financial 
year ended 
June 
2020 
  
Cash flows from operating activities 
Cash generated by operations before movements in net working capital  2 587  2 682     4 536    
Movements in net working capital  (1 009) (1 094)    559    
Cash generated by operations before interest and taxes paid  1 578  1 588     5 095    
Net interest paid  (379) (422)    (918)   
Tax paid  (304) (261)    (367)   
895  905     3 810    
Cash flows from investing activities 
Net disposal (acquisition) of subsidiaries and businesses  3 390  (75)    (276)   
Expansion capital expenditure  (238) (483)    (747)   
Net replacement capital expenditure  (63) (332)    (735)   
Net movement in associates and joint ventures  (69) 39     45    
Net movement in investments, loans and non-current financial instruments  (74) 14     (59)   
2 946  (837)    (1 772)   
Cash flows from financing activities 
Hedge cost premium paid     (2)   
Settlement of interest-rate swap instruments  (10)    (11)   
Repurchase of ordinary shares  (101) (225)    (225)   
Dividends paid  (52) (282)    (658)   
Cash paid on change in non-controlling interests  (118) (80)    (277)   
Net (decrease) increase in interest-bearing borrowings  (4 622) 1 178     2 828    
Payments of lease obligations  (913) (1 138)    (2 032)   
(5 806) (557)    (377)   
Net (decrease) increase in cash resources  (1 965) (489)    1 661    
Effects of exchange rate changes on cash resources in a foreign currency  10     279    
Cash resources at beginning of year  3 586  1 646     1 646    
Cash resources at end of year^  1 623  1 167     3 586    
^ Included in cash resources is R27 million included in assets of disposal group.