Earnings releases


Audited Results & Final Dividend Declaration for the year ended 31 December 2004


CASH FLOW STATEMENT


Rmillion20042003

Operating profit36480
Net financing costs(93)(152)
Non-cash items:
   - Depreciation231223
   - Other non-cash items11(6)
Tax payments(71)(42)
Change in working capital(203)(3)

 
Cash flow from operating activities239100
Expenditure on property, plant and equipment:
   - New(81)(206)
   - Replacement(78)(106)
   - Major plant overhaul costs capitalised(32)(39)
Growing crops2021
Proceeds on disposal of property,
   plant and equipment4443
Investments(19)(19)

 
Net cash flow before dividends and
   financing activities93(206)
Dividends paid(132)(233)

 
Net cash flow before financing activities(39)(439)
Borrowings raised32553
Shares of a subsidiary issued to the minority54
Hedges of foreign loans(35)(161)
Shares issued302

 
Net increase/(decrease) in cash and
   cash equivalents42(45)
Balance at beginning of year808938
Exchange rate translation loss(47)(80)
Foreign exchange adjustment(9)
Gain on cash equivalent investment4

 
Cash and cash equivalents at end of year 803808