| NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 23 |
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2014
R’000 |
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2013
R’000 |
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| 23. |
CASH GENERATED/(UTILISED) BY OPERATIONS |
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Reconciliation of operating profit to cash generated
by operating activities: |
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Operating profit |
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722 856 |
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645 671 |
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Adjustments for: |
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Depreciation of property, plant and equipment |
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36 976 |
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36 911 |
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Amortisation of intangible assets |
|
95 004 |
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78 930 |
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Impairment of property, plant and equipment |
|
129 |
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3 408 |
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Impairment of intangible assets |
|
1 073 |
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— |
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Discounting of receivables recognised in revenue |
|
117 443 |
|
127 771 |
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Discounting of payables recognised in changes in inventories
of finished goods |
|
(143 883) |
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(143 329) |
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Impairment of loans |
|
1 761 |
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8 400 |
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Profit on disposal of property, plant and equipment |
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(287) |
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(789) |
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Net profit on disposal of subsidiaries |
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— |
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(120) |
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Net profit on disposal of joint ventures |
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— |
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(2 273) |
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Equity compensation benefit expense |
|
11 069 |
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16 180 |
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Net unrealised forex profit |
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(16 458) |
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(8 037) |
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Changes in working capital (excluding the effects of
acquisitions and disposals): |
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Decrease/(increase) in inventories |
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552 305 |
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(1 319 938) |
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Increase in trade and other receivables |
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(669 602) |
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(155 979) |
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Increase in trade and other payables |
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423 461 |
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448 236 |
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(Increase)/decrease in loans receivable |
|
(3 209) |
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3 570 |
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Decrease in starter pack assets |
|
370 |
|
4 004 |
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| |
|
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1 129 008 |
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(257 384) |
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| NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 23 |
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