UNAUDITED INTERIM RESULTS for the six months ended 31 December 2009
CONDENSED GROUP STATEMENT OF CASH FLOW
| Restated | |||
| Unaudited | Unaudited | Audited | |
| 31 Dec | 31 Dec | 30 Jun | |
| 2009 | 2008 | 2009 | |
| R’000 | R’000 | R’000 | |
| Cash and cash equivalents at start of period | 55 754 | 81 834 | 81 834 |
| Profit before tax | 43 495 | 129 349 | 179 190 |
| Non-cash flow items | |||
| – Depreciation | 233 | 135 | 310 |
| – Other non-cash flow items | – | – | (201) |
| – Negative goodwill from associate | – | (80 623) | (80 623) |
| – Share of profit from associates | (52 616) | (58 804) | (118 191) |
| Adjustments for: | |||
| – Finance costs per the income statement | 11 657 | 15 176 | 31 938 |
| – Interest received per the income statement | (1 609) | (2 167) | (3 235) |
| – Dividends received per the income statement | (1 075) | (785) | (3 650) |
| Net working capital changes | (21 850) | (5 129) | 8 216 |
| Income tax paid | (3 946) | (6 551) | (10 401) |
| Cash flows from operating activities | (25 711) | (9 399) | 3 353 |
| Plant and equipment acquired | (164) | (340) | (566) |
| Net loans advanced | – | (3 235) | (11 601) |
| Net investments made | (298) | (98 485) | (110 032) |
| Cash flows from investing activities | (462) | (102 060) | (122 199) |
| Dividends received – group | 60 697 | 78 413 | 132 111 |
| Finance costs paid | (6 324) | (7 964) | (25 281) |
| Interest received | 1 609 | 2 167 | 3 235 |
| Capital raised – treasury shares | – | – | 3 774 |
| Shares repurchased – treasury shares | – | – | (15 238) |
| Shares repurchased – ordinary | – | (20 420) | (43 659) |
| Ordinary dividends paid | (32 251) | (45 088) | (45 902) |
| Preference shares redeemed | – | – | (22 000) |
| Preference share capital raised | – | 105 726 | 105 726 |
| Cash flows from financing activities | 23 731 | 112 834 | 92 766 |
| Cash and cash equivalents at end of period | 53 312 | 83 209 | 55 754 |