Group statement of cash flows


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For the year ended 30 June 2013 Notes   2013
R’million
  2012
R’million
 
CASH FLOWS FROM OPERATING ACTIVITIES            
Cash operating profit     5 960,1   4 746,0  
Changes in working capital     (590,1)   (869,6)  
Cash generated from operations     5 370,0   3 876,4  
Net ancing costs paid     (584,6)   (513,9)  
Tax paid     (799,3)   (454,1)  
Cash generated from operating activities     3 986,1   2 908,4  
CASH FLOWS FROM INVESTING ACTIVITIES            
Capital expenditure – property, plant and equipment     (667,1)   (469,6)  
 Replacement     (161,7)   (102,9)  
 Expansion     (505,4)   (366,7)  
Proceeds on the sale of property, plant and equipment     10,7   36,5
Capital expenditure – intangible assets     (3 654,9)   (2 148,8)  
Proceeds on the sale of intangible assets     3,5   2,8  
Acquisition of subsidiaries and businesses L#   (1 578,6)   (315,6)  
Increase in other non-current ancial receivables       (315,6)  
Proceeds on the sale of assets held-for-sale M#     250,4  
Prepayment in anticipation of acquisition N#   (394,7)    
Stamp duty on acquisitions     (2,1)    
Net investment hedge profit in Aspen Asia Pacific       6,8  
Capital funding from non-controlling interests       0,9  
Cash used in investing activities     (6 283,2)   (2 656,3)  
CASH FLOWS FROM ANCING ACTIVITIES            
Net proceeds from borrowings     4 336,0   138,3  
Dividends paid     (0,2)   (2,0)  
Proceeds from issue of ordinary share capital     9,6   25,1  
Treasury shares purchased     (21,1)   (19,3)  
Capital distribution     (714,9)   (457,6)  
Decrease in cash restricted for use as security for borrowings     1,3   27,2  
Cash generated from/(used in) ancing activities     3 610,7   (288,3)  
MOVEMENT IN CASH AND CASH EQUIVALENTS BEFORE TRANSLATION EFFECTS OF FOREIGN OPERATIONS     1 313,6   (36,2)  
Translation effects on cash and cash equivalents of foreign operations     112,8   273,2  
CASH AND CASH EQUIVALENTS            
Movement in cash and cash equivalents     1 426,4   237,0  
Cash and cash equivalents at the beginning of the year     1 989,8   1 752,8  
Cash and cash equivalents at the end of the year     3 416,2   1 989,8  
  Change          
Diluted operating cash flow per share (cents)            
From continuing operations 37%   874,1   638,6  
From discontinued operations       0,4  
  37%   874,1   639,0  
THE ABOVE INCLUDES DISCONTINUED OPERATIONS OF:            
Cash generated from operating activities       1,7  
Cash and cash equivalents per the statement of cash flows       1,7  
RECONCILIATION OF CASH AND CASH EQUIVALENTS            
Cash and cash equivalents per the statement of ancial position     6 018,6   3 313,5
Less: bank overdrafts     (2 602,4)   (1 323,7)  
      3 416,2   1 989,8  

For the purposes of the statement of cash flows, cash and cash equivalents comprise cash-on-hand, deposits held on call with banks less bank overdrafts.
#See notes on Supplementary information.