1.	Results of operations
1.6	Cash generated by operations
	2016  R’000    2015  R’000    Reconciliation of operating profit to cash generated by operating activities:         Operating profit  1 142 376     986 146     Adjustments for:              Depreciation of property, plant and equipment  42 738     40 813     Amortisation of intangible assets  130 353     121 819     Impairment of intangible assets  2 568     —     Discounting of receivables recognised in revenue  129 633     142 326     Discounting of payables recognised in changes in inventories of finished goods  (165 903)    (165 201)    Impairment of loans  —     4 907     Profit on disposal of property, plant and equipment  (500)    (1 707)    Loss on disposal of intangible assets  4     —     Loss/(profit) on disposal of subsidiary  3 885     (3 962)    Profit on disposal of associates  —     (37 238)    Equity compensation benefit expense  23 845     24 290     Net forex profit  (68 857)    (25 718)    Changes in working capital (excluding the effects of acquisitions and disposals):              Increase in inventories  (225 756)    (123 152)    Decrease/(increase) in trade and other receivables  52 252     (538 269)    (Decrease)/increase in trade and other payables  (319 884)    2 500     (Increase)/decrease in loans receivable  (1 281)    5 322     Increase in starter pack assets  (1 288)    (3 070)       744 185     429 806