Condensed Group statement of cash flows
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For the six months ended | 30 November 2019 Reviewed R'000 |
30 November 2018 Unaudited R'000 |
|
Cash flows from operating activities | |||
Cash generated by/(utilised in) operations | 390 152 | (950 899) | |
Interest received | 37 585 | 64 102 | |
Interest paid | (113 551) | (118 819) | |
Taxation paid | (204 085) | (187 617) | |
Net cash generated from/(utilised in) operating activities | 110 101 | (1 193 233) | |
Cash flows from investing activities | |||
Acquisition of intangible assets and property, plant and equipment | (89 061) | (111 514) | |
Acquisition of subsidiaries net of cash acquired | – | (7 162) | |
Liquidity support granted* | – | (53 229) | |
Loans repaid by Cell C | – | 1 029 626 | |
Loans repaid/(granted) | 21 826 | (7 163) | |
Loans repaid/(granted) to associates and joint ventures | 9 264 | (7 485) | |
Settlement of contingent consideration | – | (2 614) | |
Other investing activities | 8 725 | 6 191 | |
Net cash (utilised in)/ generated from investing activities | (49 246) | 846 650 | |
Cash flows from financing activities | |||
Proceeds from dilution of shares in subsidiary** | 34 435 | – | |
Borrowings raised | 422 072 | 632 603 | |
Acquisition of treasury shares | – | (42 394) | |
Share buy back*** | – | (224 006) | |
Principal element of lease payments | (22 929) | – | |
Dividends paid to non-controlling interest | (57 977) | (28 553) | |
Net cash generated from financing activities | 375 601 | 337 650 | |
Net increase/(decrease) in cash and cash equivalents | 436 456 | (8 933) | |
Cash and cash equivalents at the beginning of the period | 1 377 753 | 947 888 | |
Exchange gains on cash and cash equivalents | 1 160 | 693 | |
Cash and cash equivalents at the end of the period | 1 815 369 | 939 648 | |
Included in cash and cash equivalents per the statement of financial position | 1 640 684 | 939 648 | |
Included in the assets of the disposal group | 174 685 | – | |
1 815 369 | 939 648 |
* | This relates to the liquidity support given to SPV2. | |
** | This relates to Malik Investment Holdings Proprietary Limited's subscription for a further 4.51% in Blue Label Mobile Holdings Proprietary Limited. Refer to note 9.2 of the Group annual financial statements for the year ended 31 May 2019. | |
*** | Approximately 32.9 million shares were repurchased over the period 22 August 2018 to 21 September 2018 at a weighted average price of R6.78 per share. |