| |
|
 |
 |
| |
Note |
2008 |
2007 |
2008 |
2007 |
| |
|
|
Restated |
|
Restated |
| |
|
R |
R |
R |
R |
| Cash flows from operating activities |
|
|
|
|
|
| Profit/(loss) before taxation |
|
747 968 205 |
80 796 139 |
(45 848 442) |
26 425 067 |
| Adjustments for: |
|
|
|
|
|
| Depreciation |
|
147 495 |
15 457 |
147 495 |
15 457 |
| Interest received |
|
(10 429 084) |
(5 806 191) |
(7 891 925) |
(2 627 737) |
| Dividends received |
|
(1 524 722) |
(64 382 794) |
(45 528 076) |
(31 495 702) |
| Impairment of investment in associate |
|
92 131 891 |
750 380 |
86 650 177 |
750 380 |
| Finance costs |
|
8 934 260 |
35 980 |
– |
35 980 |
| Negative goodwill from associate |
|
(784 087 333) |
– |
– |
– |
| Share of profit from associate |
|
(47 051 571) |
(366 958) |
– |
– |
| Operating cash flows before working |
|
|
|
|
|
| capital changes |
|
6 089 141 |
11 042 013 |
(12 470 771) |
(6 896 555) |
| (Increase)/decrease in trade and |
|
|
|
|
|
| other receivables |
|
(137 979) |
(2 394 192) |
335 479 |
(588 392) |
| Increase/(decrease) in trade and |
|
|
|
|
|
| other payables |
|
(401 389) |
1 824 725 |
(576 851) |
1 764 106 |
| Cash flows from operations |
|
5 549 773 |
10 472 546 |
(12 712 143) |
(5 720 841) |
| Income taxes paid |
25.1 |
(8 144 030) |
(5 662 872) |
(676 276) |
(267 066) |
| Net cash (outflow)/inflow from |
|
|
|
|
|
| operating activities |
|
(2 594 257) |
4 809 674 |
(13 388 419) |
(5 987 907) |
| Cash flows from investing activities |
|
|
|
|
|
| Purchase of plant and equipment |
|
(1 060 222) |
– |
(1 060 222) |
– |
| Loans repaid/(advanced) |
|
|
|
|
|
| – GPI Slots |
|
5 947 677 |
(679 087) |
5 836 081 |
– |
| – BVI |
|
– |
– |
(13 169 975) |
(39 824 821) |
| – Akhona GPI |
|
(8 118 000) |
– |
(8 118 000) |
– |
| Investments (made)/received |
|
|
|
|
|
| – SunWest – share premium distribution |
|
43 580 073 |
– |
– |
– |
| – SunWest |
|
(240 440 231) |
(34 559 982) |
(3 088 128) |
(34 559 982) |
| – Worcester Casino |
|
– |
(750 380) |
– |
(750 380) |
| – RAH |
|
(139 290 193) |
– |
(139 290 193) |
– |
| – Akhona GPI |
|
(7 014 000) |
– |
(7 014 000) |
– |
| – BVI |
|
– |
– |
(999 900) |
– |
| Net cash outflow from investing activities |
|
(346 394 896) |
(35 989 449) |
(166 904 337) |
(75 135 183) |
| Cash flows from financing activities |
|
|
|
|
|
| Capital raised – ordinary shares issued |
|
167 201 831 |
19 559 982 |
167 201 831 |
19 559 982 |
| Preference shares redeemed |
|
(57 797 500) |
(57 500 000) |
– |
– |
| Preference shares issued |
|
201 398 108 |
– |
– |
– |
| Ordinary dividends paid to |
|
|
|
|
|
| equity holders of parent |
25.2 |
(24 793 966) |
(13 211 929) |
(24 793 966) |
(13 211 929) |
| Preference dividends paid |
|
(3 481 412) |
(7 393 734) |
– |
– |
| Interest received |
|
10 429 084 |
5 806 191 |
7 891 925 |
2 627 737 |
| Finance costs |
|
(3 193 031) |
(35 980) |
– |
(35 980) |
| Dividends received |
|
71 349 941 |
64 382 794 |
45 528 076 |
31 495 702 |
| Net cash inflow from financing activities |
|
361 113 055 |
11 607 324 |
195 827 866 |
40 435 512 |
| Net increase/(decrease) in cash and |
|
|
|
|
|
| cash equivalents |
|
12 123 902 |
(19 572 451) |
15 535 110 |
(40 687 578) |
| Cash and cash equivalents at the |
|
|
|
|
|
| beginning of the year |
|
69 710 295 |
89 282 746 |
28 943 558 |
69 631 136 |
| Cash and cash equivalents at end of year |
15 |
81 834 197 |
69 710 295 |
44 478 668 |
28 943 558 |
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