Consolidated statements of cash flows

		2016 R’000	2015 R’000
Cash flows from operating activities
Operating profit before working capital changes	26.1	827 372	724 550
Working capital changes	26.2	113 752	(126 423)
Cash generated from operations		941 124	598 127
Finance income received	26.6	17 249	14 409
Finance costs paid	26.7	(86 689)	(103 871)
Dividend income received		23 835	10 670
Dividends paid	26.3	(196 977)	(4 537)
Taxation paid	26.4	(176 421)	(87 312)
Net cash inflow from operating activities		522 121	427 486
Cash flows from investing activities
Decrease in other financial assets	26.8	11 961	37 962
Disposal of business	26.5	–	(2 663)
Purchase of property, plant and equipment – Expansion		(34 650)	(23 560)
– Replacement		(60 792)	(56 304)
Proceeds on disposal of property, plant and equipment		486	2 243
Proceeds on disposal of intangibles		2 009	–
Disposal of non-controlling interest in Blue Falcon Trading Proprietary Limited		(11 616)	–
Net cash outflow from investing activities		(92 602)	(42 322)
Cash flows from financing activities
Acquisition of non-controlling interests in Ayrton Drug Manufacturing Limited		(2)	(132)
Proceeds from issue of share capital		190	2 028
Proceeds from sale of shares		30 410	–
Increase in borrowings		–	23 915
Repayment of borrowings		(19 816)	(506 031)
Net cash inflow/(outflow) from financing activities		10 782	(480 220)
Net increase/(decrease) in cash and cash equivalents		440 301	(95 056)
Net foreign exchange difference on cash and cash equivalents		10 992	9 986
Cash and cash equivalents at beginning of year		(156 831)	(71 761)
Cash and cash equivalents at end of year	17	294 462	(156 831)