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Integrated Report 2016
ANNUAL FINANCIAL STATEMENTS
(continued)
CONSOLIDATED STATEMENTS OF CASH FLOWS
Notes
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)