| |
|
2011 |
2010 |
| |
|
R'000 |
R'000 |
25. |
Notes to the statement of cash flow |
|
|
| |
25.1 |
Cash generated by operations |
|
|
| |
|
Profit before taxation and State’s share of profits |
4 816 210 |
2 334 460 |
| |
|
Adjusted for: |
539 520 |
374 242 |
| |
|
– Dividends received |
(37 637) |
(17 770) |
| |
|
– Interest received |
(133 373) |
(190 827) |
| |
|
– Profit on disposal of property, plant and equipment |
(407) |
(8 631) |
| |
|
– Net unrealised foreign exchange gains |
(30 609) |
(57 620) |
| |
|
– Amortisation of intangibles |
180 |
180 |
| |
|
– Cost of inventories written down |
91 069 |
4 148 |
| |
|
– Depreciation and impairment of property, plant and equipment |
546 613 |
517 369 |
| |
|
– Finance costs |
77 790 |
123 633 |
| |
|
– Movement in foreign currency translation reserve |
(7 054) |
7 |
| |
|
– Loss on disposal of property, plant and equipment |
– |
5 858 |
| |
|
– Movements in long-term provisions |
19 601 |
3 674 |
| |
|
– Movements in short-term provisions |
5 323 |
(13 625) |
| |
|
– Provision for impairment of receivables and bad debts written off |
– |
414 |
| |
|
– Other non-cash flow items |
8 024 |
7 432 |
| |
|
|
|
|
| |
|
|
5 355 730 |
2 708 702 |
| |
25.2 |
Dividend income |
|
|
| |
|
Credited to the income statement |
37 637 |
17 770 |
| |
|
|
|
|
| |
25.3 |
Movements in working capital |
|
|
| |
|
(Increase)/decrease in inventories |
(324 669) |
27 885 |
| |
|
Increase in trade and other receivables |
(99 363) |
(830 753) |
| |
|
Increase in trade and other payables |
231 647 |
357 438 |
| |
|
Payments against short-term provisions |
(5 895) |
(10 515) |
| |
|
|
(198 279) |
(455 945) |
| |
25.4 |
Taxation paid |
|
|
| |
|
Unpaid at beginning of year |
(253 895) |
(429 293) |
| |
|
Charged to the income statement |
(1 566 524) |
(822 963) |
| |
|
Movement in deferred taxation |
425 964 |
348 500 |
| |
|
Unpaid at end of year |
192 345 |
253 895 |
| |
|
|
(1 202 110) |
(649 861) |
| |
25.5 |
Dividends paid |
|
|
| |
|
Unpaid at beginning of year |
(245) |
(95) |
| |
|
Declared during the year |
(614 271) |
(415 324) |
| |
|
Dividends attributable to treasury shares |
87 716 |
56 309 |
| |
|
Unpaid at end of year |
571 |
245 |
| |
|
|
(526 229) |
(358 865) |
| |
25.6 |
Cash resources |
| |
The cash resources disclosed in the cash flow statement comprise cash on hand, deposits held on call with banks and highly liquid investments that are readily convertible to known amounts of cash and are subject to insignificant changes in value over time. Bank overdrafts have been separately disclosed in the notes to the financial statements (refer note 18). |