Earnings releases
Interim Results for the half-year ended 30 June 2006
| |
Unaudited |
|
Unaudited |
|
Audited |
| |
Half-year |
|
Half-year |
|
Year ended |
| |
30 June |
|
30 June |
|
31 December |
| Rmillion |
2006 |
|
2005 |
|
2005 |
|
| Operating profit |
470 |
|
319 |
|
730 |
| Net financing costs |
(19) |
|
(35) |
|
(60) |
| Non-cash items: |
|
|
|
|
|
| Depreciation |
131 |
|
135 |
|
265 |
| Other non-cash items |
(127) |
|
(80) |
|
0 |
| Tax payments |
(97) |
|
(17) |
|
(38) |
| Change in working capital |
(28) |
|
(31) |
|
(109) |
| |
|
|
|
|
|
| Cash flow from operating activities |
330 |
|
291 |
|
788 |
| |
|
|
|
|
|
| Expenditure on property, plant and equipment: |
|
|
|
|
|
| New |
(98) |
|
(58) |
|
(169) |
| Replacement |
(74) |
|
(27) |
|
(101) |
| Major plant overhaul costs capitalised |
(39) |
|
(34) |
|
(35) |
| Expenditure on intangible assets |
(1) |
|
(2) |
|
(4) |
| Growing crops disposals |
1 |
|
0 |
|
5 |
| Proceeds on disposal of property, plant |
|
|
|
|
|
| and equipment |
22 |
|
23 |
|
42 |
| Investments |
(5) |
|
(59) |
|
(72) |
| |
|
|
|
|
|
| Net cash flow before dividends and |
|
|
|
|
|
| financing activities |
136 |
|
134 |
|
454 |
| |
|
|
|
|
|
| Dividends paid |
(294) |
|
(123) |
|
(247) |
| |
|
|
|
|
|
| Net cash flow before financing activities |
(158) |
|
11 |
|
207 |
| |
|
|
|
|
|
| Borrowings raised/(repaid) |
144 |
|
(158) |
|
(558) |
| Hedges of foreign loans |
(5) |
|
(9) |
|
(2) |
| Shares issued |
83 |
|
31 |
|
62 |
| |
|
|
|
|
|
| Net increase/(decrease) in cash |
|
|
|
|
|
| resources |
64 |
|
(125) |
|
(291) |
| |
|
|
|
|
|
| Cash resources at beginning of period |
526 |
|
803 |
|
803 |
| Exchange rate translation gain |
46 |
|
39 |
|
14 |
| |
|
|
|
|
|
| Cash resources at end of period |
636 |
|
717 |
|
526 |
| |
|
|
|
|
|
|