Summarised Group statement of cash flows
for the year ended 31 May 2020
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| 2020 R'000 |
2019 R'000 |
|||
| Cash flows from operating activities | ||||
| Cash received from customers | 23 539 462 | 25 995 287 | ||
| Cash paid to suppliers, financiers and employees | (21 836 971) | (25 564 000) | ||
| Cash generated by operations | 1 702 491 | 431 287 | ||
| Interest received | 93 053 | 88 416 | ||
| Interest paid | (214 166) | (231 131) | ||
| Taxation paid | (324 553) | (369 086) | ||
| Net cash generated from/(utilised in) operating activities | 1 256 825 | (80 514) | ||
| Cash flows from investing activities | ||||
| Acquisition of intangible assets | (31 093) | (75 931) | ||
| Proceeds on disposal of intangible assets | 19 038 | 51 | ||
| Acquisition of property, plant and equipment | (139 430) | (134 028) | ||
| Proceeds on disposal of property, plant and equipment | 15 150 | 5 230 | ||
| Acquisition of subsidiary, net of cash acquired | 206 | (7 162) | ||
| Proceeds from disposal of shares in subsidiary, net of cash disposed | 698 335 | — | ||
| Liquidity support granted | — | (326 388) | ||
| Loan repaid by Cell C | — | 1 135 759 | ||
| Loan granted to Cell C | — | (106 132) | ||
| Loans advanced to associates and joint ventures | (5 369) | (13 284) | ||
| Loans repaid by associates and joint ventures | 17 888 | 1 690 | ||
| Dividend received from associate and joint venture | 6 100 | 17 992 | ||
| Loans granted | (185 635) | (29 916) | ||
| Loans receivable repaid | 58 430 | 96 007 | ||
| Settlement of contingent consideration | — | (2 614) | ||
| Net cash generated by investing activities | 453 620 | 561 274 | ||
| Cash flows from financing activities | ||||
| Interest-bearing borrowings raised | 31 487 | 993 439 | ||
| Interest-bearing borrowings repaid | (911 836) | (769 652) | ||
| Non-interest-bearing borrowings raised | 170 | 35 876 | ||
| Non-interest-bearing borrowings repaid | (22 094) | (170) | ||
| Proceeds from dilution of shares in subsidiary* | 34 435 | — | ||
| Principal lease repayments | (53 210) | — | ||
| Settlement of financial guarantee | (44 190) | — | ||
| Share buy-back** | — | (224 006) | ||
| Acquisition of treasury shares | (46 352) | (42 378) | ||
| Dividends paid to non-controlling interest | (67 469) | (35 550) | ||
| Net cash utilised in financing activities | (1 079 059) | (42 441) | ||
| Net increase in cash and cash equivalents | 631 386 | 438 319 | ||
| Cash and cash equivalents at the beginning of the year | 1 377 753 | 947 888 | ||
| Exchange gains/(losses) on cash and cash equivalents | 5 586 | (8 454) | ||
| Cash and cash equivalents at the end of the year | 2 014 725 | 1 377 753 |
| * | This relates to Malik Investment Holdings Proprietary Limited’s subscription for a further 4.51% in Blue Label Mobile Holdings Proprietary Limited. Refer to the note on discontinued operations. |
| ** | Approximately 32.9 million shares were repurchased in the prior year over the period 22 August 2018 to 21 September 2018 at a weighted average price of R6.78 per share. |
| Refer to the discontinued operations note for the cash flows included above that relate solely to discontinued operations. | |