Group statement of cash flows

For the year ended 31 May 2014
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  Notes   2014
R’000
  2013
R’000
 
Cash flows from operating activities  
Cash received from customers   18 708 547 18 832 495  
Cash paid to suppliers and employees     (17 579 539)   (19 089 879)  
Cash generated/(utilised) by operations 23   1 129 008 (257 384)  
Interest received 20   24 613 35 806  
Interest paid 20   (22 751) (23 709)  
Taxation paid 24   (223 538)   (194 507)  
Net cash flows from operating activities     907 332   (439 794)  
Cash flows from investing activities  
Acquisition of intangible assets   (102 778) (272 141)  
Warranty refund 5   15 501  
Proceeds on disposal of intangible assets   1 209 70  
Disposal of subsidiaries net of cash disposed 25   255  
Acquisition of subsidiaries net of cash acquired 26.1   (273 242) (2 770)  
Acquisition of associate and joint venture 6   * (110 345)  
Loans advanced to associates and joint ventures   (86 368) (593)  
Loans granted   (16 155) (6 433)  
Loans receivable repaid   28 662 137  
Dividends received from associates and joint ventures   11 118 750  
Proceeds on disposal of property, plant and equipment   1 144 4 198  
Acquisition of property, plant and equipment     (46 311)   (19 464)  
Net cash flows from investing activities     (467 220)   (406 336)  
Cash flows from financing activities  
Interest-bearing borrowings repaid   (112)  
Interest-bearing borrowings raised   962 1 809  
Acquisition of non-controlling interest 26.2   (16 190) (14 000)  
Acquisition of treasury shares   (11 120) (17 223)  
Dividends paid to non-controlling interest   (1 805) (3 515)  
Dividends paid     (168 627)   (155 137)  
Net cash flows from financing activities     (196 892)   (188 066)  
Increase/(decrease) in cash and cash equivalents   243 220 (1 034 196)  
Cash and cash equivalents at the beginning of the year   941 282 1 975 242  
Translation difference     (371)   236  
Cash and cash equivalents at the end of the year     1 184 131   941 282  
* Less than R1 000.
 
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