| 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 | 2 | 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. |