| R’000 |
2007 |
2006 |
| Cash flows from operating activities |
|
|
| Operating profit including dividends from associates |
4 505 653 |
3 696 498 |
| Depreciation and other non-cash items |
1 083 040 |
954 879 |
| Cash generated by operations before changes in working capital |
5 588 693 |
4 651 377 |
| Changes in working capital |
(1 351 796) |
(161 019) |
| Cash generated by operations |
4 236 897 |
4 490 358 |
| Net finance charges paid |
(472 699) |
(258 582) |
| Taxation paid |
(1 152 174) |
(863 495) |
| Distributions of share premium by Company |
(1 205 633) |
(992 408) |
| Dividends paid by subsidiaries |
(27 786) |
(23 184) |
| |
1 378 605 |
2 352 689 |
| Cash flows from investment activities |
|
|
| Net additions to vehicle rental fleet |
(134 050) |
(298 251) |
| Net additions to property, plant and equipment |
(1 723 174) |
(1 454 153) |
| Net additions to intangible assets |
(121 552) |
(100 613) |
| Net acquisition of subsidiaries, businesses, associates and investments |
(1 125 027) |
(515 355) |
| |
(3 103 803) |
(2 368 372) |
| Cash flows from financing activities |
|
|
| Proceeds from share issues |
494 094 |
180 274 |
| Net purchase of treasury shares |
(699 593) |
(508 810) |
| Net borrowings raised (repaid) |
(129 751) |
1 171 313 |
| |
(335 250) |
842 777 |
| Net increase (decrease) in cash and cash equivalents |
(2 060 448) |
827 094 |
| Net cash and cash equivalents at the beginning of the year |
2 546 995 |
1 497 683 |
| Currency adjustments |
129 918 |
222 218 |
| Net cash and cash equivalents at the end of the year |
616 465 |
2 546 995 |
| Net cash equivalents are made up as follows: |
|
|
| Cash and cash equivalents |
2 374 442 |
3 255 457 |
| Bank overdrafts shown as short-term portion of borrowings |
(1 757 977) |
(708 462) |
| |
616 465 |
2 546 995 |
