Audited summary financial statements for the 2015 financial period

Statement of cash flows
for the period ended

  52 weeks  
1 March  
2015  
Rm  
52 weeks  
2 March  
2014  
Rm  
Cash flows from operating activities      
Trading profit   1 238.6   1 008.1  
Amortisation   155.0   199.3  
Depreciation   714.5   749.1  
Share-based payments expense   139.9   71.5  
Movement in net operating lease liabilities   78.8   90.8  
Movement in provisions   (7.1)  (0.9) 
Fair value adjustments   2.1   (6.3) 
Cash generated before movements in working capital   2 321.8   2 111.6  
Movements in working capital   150.1   781.3  
Movements in trade and other payables   938.3   1 229.7  
Movements in inventory   (672.6)  31.6  
Movements in trade and other receivables   (115.6)  (480.0) 
     
Cash generated from trading activities   2 471.9   2 892.9  
Interest received   59.4   44.3  
Interest paid   (119.0)  (143.9) 
Cash generated from operations   2 412.3   2 793.3  
Dividends paid   (457.1)  (397.2) 
Tax paid   (284.5)  (270.2) 
Cash generated from operating activities   1 670.7   2 125.9  
Cash flows from investing activities      
Investment in intangible assets   (159.2)  (289.2) 
Investment in property, plant and equipment   (897.3)  (882.4) 
Purchase of operations   (50.9)  (103.3) 
Proceeds on disposal of intangible assets   4.7   11.1  
Proceeds on disposal of property, plant and equipment   57.3   38.2  
Loans (advanced)/repaid   (8.6)  6.9  
Participation in export partnership   1.7   3.0  
Retirement obligation   60.9   (4.3) 
Cash utilised in investing activities   (991.4)  (1 220.0) 
Cash flows from financing activities      
Proceeds from borrowings   400.0   3 100.0  
Repayment of borrowings   (1 100.6)  (2 819.1) 
Share repurchases   (177.9)  (45.7) 
Proceeds from employees on settlement of share options   1.0   1.3  
Cash (utilised in)/generated from financing activities   (877.5)  236.5  
Net (decrease)/increase in cash and cash equivalents   (198.2)  1 142.4  
Cash and cash equivalents at beginning of period   870.3   (269.9) 
Effect of exchange rate fluctuations on cash and cash equivalents   2.5   (2.2) 
Cash and cash equivalents at end of period   674.6   870.3  
Consisting of:      
Cash and cash equivalents   1 174.6   1 540.3  
Bank overdraft and overnight borrowings   (500.0)  (670.0)