| for the |
Half year ended
December 31 |
Year ended
June 30
2007
Audited |
| R000s |
2007
Unaudited |
2006
Unaudited |
| Cash flows from operating activities |
|
|
|
| Operating profit (including dividends from associates) |
2 482 474 |
2 093 767 |
4 555 867 |
| Depreciation and other non-cash items |
696 885 |
536 107 |
1 032 826 |
| Cash generated by operations before changes in working capital |
3 179 359 |
2 629 874 |
5 588 693 |
| Changes in working capital |
(2 527 161) |
(2 306 002) |
(1 351 796) |
| Cash generated by operations |
652 198 |
323 872 |
4 236 897 |
| Net finance charges paid |
(367 145) |
(177 625) |
(472 699) |
| Taxation paid |
(691 432) |
(702 759) |
(1 152 174) |
| Distribution of share premium by Company |
(761 148) |
(610 602) |
(1 205 633) |
| Dividends paid by subsidiaries |
(10 640) |
(17 308) |
(27 786) |
| |
(1 178 167) |
(1 184 422) |
1 378 605 |
| Cash flows from investment activities |
|
|
|
| Net additions to vehicle rental fleet |
(124 055) |
(104 434) |
(134 050) |
| Net additions to property, plant and equipment |
(976 278) |
(791 453) |
(1 723 174) |
| Net additions to intangible assets |
(179 652) |
(59 608) |
(121 552) |
| Net acquisition of subsidiaries, businesses, associates and investments |
(1 042 456) |
(347 650) |
(1 125 027) |
| |
(2 322 441) |
(1 303 145) |
(3 103 803) |
| Cash flows from financing activities |
|
|
|
| Proceeds from shares issued |
— |
25 117 |
494 094 |
| Net issue (purchase) of treasury shares |
63 783 |
(323 600) |
(699 593) |
| Net borrowings raised (repaid) |
1 713 393 |
(447 710) |
(129 751) |
| |
1 777 176 |
(746 193) |
(335 250) |
| |
|
|
|
| Net decrease in cash and cash equivalents |
(1 723 432) |
(3 233 760) |
(2 060 448) |
| Net cash and cash equivalents at the beginning of the period |
616 465 |
2 546 995 |
2 546 995 |
| Currency adjustments |
(10 603) |
84 841 |
129 918 |
| Net cash and cash equivalents at the end of the period |
(1 117 570) |
(601 924) |
616 465 |
| Net cash equivalents are made up as follows |
|
|
|
| Cash on hand and in the bank |
2 290 589 |
2 469 541 |
2 374 442 |
| Bank overdrafts shown as current portion of interest-bearing debt |
(3 408 159) |
(3 071 465) |
(1 757 977) |
| |
(1 117 570) |
(601 924) |
616 465 |
