2019

Integrated Annual Report

Consolidated statement of cash flows

For the year ended 30 September

    2019 
Rm 
  2018  
Restated*
Rm  
 
CASH FLOW FROM OPERATING ACTIVITIES          
Cash generated by operations   1 731    1 464    
Income taxes paid   (108)   (87)   
Dividends paid   (380)   (291)   
CASH FLOW FROM OPERATING ACTIVITIES BEFORE CHANGES IN OPERATING ASSETS AND WORKING CAPITAL   1 243    1 086    
INCREASE IN OPERATING ASSETS   (2 908)   (2 057)   
    Loans and advances   (1 741)   (1 457)   
    Purchased book debts   (1 167)   (600)   
CHANGES IN WORKING CAPITAL   (553)   (520)   
    Increase in inventories   (354)   (265)   
    Increase in trade and other receivables   (167)   (430)   
    (Increase)/decrease in other loans receivable   (6)   2    
    (Decrease)/increase in trade and other payables   (26)   173    
NET CASH UTILISED BY OPERATING ACTIVITIES   (2 218)   (1 491)   
CASH FLOW FROM INVESTING ACTIVITIES          
Acquisition of property and equipment   (48)   (59)   
Proceeds on disposal of property and equipment     5    
Acquisition of intangible assets   (57)   (60)   
Acquisition of equity accounted investment   (87)   –    
Business combinations   (7)   (35)   
Proceeds on disposal of subsidiary     –    
NET CASH UTILISED BY INVESTING ACTIVITIES   (188)   (149)   
CASH FLOW FROM FINANCING ACTIVITIES          
Proceeds from interest-bearing liabilities   9 088    5 946    
Settlement of interest-bearing liabilities   (8 101)   (4 320)   
Increase in other short-term borrowings   76    –    
Additional interest acquired in subsidiary   (28)   –    
Net proceeds on issue of shares by subsidiary to non-controlling interests   1 135    –    
Repurchase of shares   (11)   (9)   
NET CASH GENERATED BY FINANCING ACTIVITIES   2 159    1 617    
NET DECREASE IN CASH AND CASH EQUIVALENTS   (247)   (23)   
Cash and cash equivalents at the beginning of the year**   784    808    
Effects of exchange rate changes on the balance of cash held in foreign currencies     (1)   
CASH AND CASH EQUIVALENTS AT THE END OF YEAR**   538    784    

*   Restated for the early adoption of IFRS 17 – Insurance Contracts.
** Cash and cash equivalents are presented net of bank overdrafts.