Condensed interim unaudited financial statements

   CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

for the six months ended 31 December 2018

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    Notes  
change 
    Unaudited
six months
ended
31 December
2018
Rm
  Unaudited 
six months 
ended*
31 December 
2017 
Rm 
  Audited 
twelve 
months 
ended*
30 June 
2018 
Rm 
 
CASH FLOWS FROM OPERATING ACTIVITIES                        
Cash generated from operations before movements in net working capital           2 398    2 252    4 607   
Movements in net working capital             (1 572)   785    2 141   
Cash generated by operations before interest, tax paid and capital expenditure on vehicles for hire       (73)     826    3 037    6 748   
Finance costs paid             (394)   (440)   (803)  
Finance income received             31    44    66   
Dividend income             299    120    230   
Tax paid             (380)   (440)   861   
Cash generated by operations before capital expenditure on vehicles for hire       (84)     382    2 321    5 380   
Net capital expenditure – vehicles for hire             (613)   (1 161)   (1 079)  
– Expansion
            (356)   (417)   (293)  
– Replacement             (257)   (744)   (786)  
              (231)   1 160    4 301   
CASH FLOWS FROM INVESTING ACTIVITIES                        
Net cash utilised on acquisitions of businesses             (368)   (653)   (731)  
Net cash generated by disposals of businesses               –    57   
Expansion of property, plant, equipment and intangible assets             (205)   (222)   (390)  
Net replacements of property, plant, equipment and intangible assets             (24)   242    1 146   
Movements in investments in associates             12    (193)   (45)  
(Increase)/decrease in investments             (77)   106    18   
Repayments of other loans             –       
              (653)   (714)   61  
CASH FLOWS FROM INVESTING ACTIVITIES                        
Repurchase of ordinary shares             (165)   –    –   
Dividends paid to Imperial Holdings Limited             (567)   (1 635)   (3 139)  
Dividends paid to non-controlling interests             37    –    (1)  
Acquisition of non-controlling interests             (28)   –    (35)  
Capital raised from non-controlling interests             –    221    220   
Repayment of other financial liabilities             –    (44)   (20)  
Issue of preference shares to non-controlling interests             –    41    40   
Increase in floorplan facilities             244    515    81   
(Repayments)/advances in unsecured loans with Imperial Holdings Limited             (7 066)   237    (1 350)  
Advances in banking facilities             7 241    –    –   
              (378)   (665)   (4 204)  
Net (decrease)/increase in cash and cash equivalents             (1 262)   (219)   158   
Effects of exchange rate changes on cash and cash equivalents             15    (2)   86   
Cash and cash equivalents at beginning of the year             1 187    943     943   
Cash and cash equivalents at end of year   8          60    722    1 187    

* The capital expenditure on vehicles for hire, property, plant and equipment and intangibles was represented to disclose expansion and net replacement capital expenditure.