Condensed consolidated statement of cash flow

for the year ended 31 March 2020

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  Reviewed 
31 March 
2020 
Rm 
   Audited 
31 March 
2019 
Rm 
  
Cash flow from operating activities   2 417     1 786    
Cash flow from investing activities   (2 977)    (7 362)   
Cash flow from financing activities   865     5 617    
Net increase in cash and cash equivalents   305     41    
Foreign currency movements in cash   117       
Cash and cash equivalents at the beginning of the year   1 137     1 094    
Cash and cash equivalents at the end of the year   1 559     1 137    
Major items included in the above:          
Cash flow from operating activities   2 417     1 786    
Profit before tax      1 967    
Adjustments(i)   2 256     (266)   
Working capital adjustments   186     110    
Other   (26)    (25)   
Cash flow from investing activities   (2 977)    (7 362)   
Acquisition of investment property   (2 488)    (9 574)   
Equity contributed from non-controlling interest      1 828    
Other   (492)    384    
Cash flow from financing activities   865     5 617    
Interest-bearing borrowings advanced   3 102     6 895    
Interest-bearing borrowings repaid   (448)    (1 892)   
Proceeds from issue of share capital   696     2 615    
Finance costs paid   (570)    (461)   
Dividends paid   (1 867)    (1 518)   
Other   (48)    (22)   
(i) Adjustments to cash flows from operating activities for March 2020 include fair value of investment property of R1 242.7 million, finance costs of R615.2 million and fair value losses on equity investments of R712.9 million.