Annual Financial Statements


Financial Statements for the year ended 31 December 2002


Balance Sheets
Cash Flow Statements
for the year ended 31 December 2002
 
Company Group
2001 2002 Rmillion 2002 2001
Restated Restated
Revenue account
159 496 Operating earnings from continuing operations 738 596
87 137 Dividends received from subsidiaries 71 76
(19) (6) Net interest (100) (75)
(12) Loss from discontinued operations (11)
Non-cash items:
112 120   Depreciation 170 159
34 15   Provisions 20 40
(7)   Surplus on disposal of plant and equipment (7)
(41) 86   Other 131 (79)
(5) (28) Tax payments (39) (19)


308 820 Revenue inflows 991 680

Working capital account
(86) (155) Inventories (152) (139)
(121) (141) Accounts receivable (136) (176)
222 (55) Accounts payable (33) 428


15 (351) (Increase)/decrease in working capital (321) 113

323 469 Cash flows from operating activities 670 793

Cash flows from investing activities
Property, plant and equipment
(89) (145)   New project expenditure (167) (232)
(35) (31)   Replacement expenditure (56) (46)
(18) Growing crops (12) (26)
Proceeds on disposal of property,
26 26   plant and equipment 36 33
1 Investments (1) (60)
111 Disposal of subsidiaries 111


(4) (150) Net cash used in investing activities (200) (220)

  Dividends paid
(151) (211) Previous year final (211) (151)
(63) (81) Current year interim (81) (63)


(214) (292) Dividends paid (292) (214)

105 27 Net cash flow before financing activities 178 359

Cash flows from financing activities
(207) (150) Borrowings repaid (226) (242)
9 8 Shares issued 8 9
116 160 Inter-group loans


(82) 18 Net cash (utilised in)/from financing activities (218) (233)

23 45 Net (decrease)/increase in cash resources (40) 126
95 118 Cash resources at beginning of year 1 125 699
Exchange rate translation (loss)/gain (151) 255
Mark-to-market adjustment 4 45

118 163 Cash resources at end of year 938 1 125