CASH FLOW STATEMENTS for the 18-month period ended 30 June 2007

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CASH FLOW STATEMENTS for the 18-month period ended 30 June 2007 Powered By Docstoc
					                                                                          CASH FLOW STATEMENTS
                                                  for the 18-month period ended 30 June 2007
                                                                    GROUP                          COMPANY
                                                          Period ended     Year ended     Period ended      Year ended
                                                           30 Jun 2007    31 Dec 2005      30 Jun 2007     31 Dec 2005
                                                                             Restated
                                                  Notes           Rm              Rm               Rm              Rm

CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers                                   5 203,1        2 957,6                 –               –
Cash paid to suppliers and employees                          (4 983,8)      (2 824,6)            (11,1)           (8,5)
Cash generated from/(utilised by) operations       32.1         219,3           133,0             (11,1)          (8,5)
Interest paid                                                   (51,8)          (27,4)            (24,7)          (9,5)
Interest received                                                 0,7             8,0              28,7           15,7
Taxation (paid)/received                           32.2         (14,0)           (3,1)              1,4           (0,2)
Net cash inflow/(outflow) from operating
  activities                                                    154,2           110,5              (5,7)           (2,5)

CASH FLOWS FROM INVESTING ACTIVITIES
Dividends received                                                   –              –                 –           20,9
Subsidiaries acquired, net of cash acquired        32.3          (54,4)             –                 –              –
Acquisition of subsidiary                          32.3              –              –             (49,6)             –
Purchase of property, plant and equipment
  To maintain operations                                         (54,6)         (26,0)             (0,3)           (2,1)
  To expand operations                                          (127,8)        (139,2)                –               –
Proceeds on disposals of property, plant and
  equipment                                                       15,5           18,8               1,5             1,1
Decrease/(increase) in loans to subsidiaries                         –              –               1,9           (64,8)
Acquisition of joint venture                                         –           (5,9)                –               –
Loans advanced to joint venture                                  (13,5)          (1,0)                –               –
Long-term loans repaid                                             7,8            6,7                 –             1,1
Short-term loans repaid                                            7,5            7,5               1,2             2,3
Net cash outflow from investing activities                      (219,5)        (139,1)            (45,3)          (41,5)
Total cash flows from operating and
 investing activities                                            (65,3)         (28,6)            (51,0)          (44,0)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid, net of capitalisation issue                          –           (7,1)               –             (7,1)
Capital distributions                                           (110,2)             –           (110,2)               –
Dividends paid to minorities                                      (0,6)          (1,6)               –                –
(Decrease)/increase in interest-bearing
  borrowings, excluding bank overdrafts                          (93,4)         (66,2)            31,0            (21,7)
Increase/(decrease) in interest-free borrowings                    8,3           (6,9)               –             (6,7)
Proceeds of share issue, net of costs                                –              –              4,8                –
Net cash outflow from financing activities                      (195,9)         (81,8)            (74,4)          (35,5)
Net decrease in cash and cash equivalents                       (261,2)        (110,4)          (125,4)           (79,5)
Cash and cash equivalents at the beginning
 of the period                                      14          (110,7)          (0,3)            (91,7)          (12,2)
Cash and cash equivalents
 at the end of the period                           14          (371,9)        (110,7)          (217,1)           (91,7)




                                                                                         KAP ANNUAL REPORT 2007            41