Earnings releases
Interim Results for the half-year ended 30 June 2007
| Condensed consolidated |
Unaudited |
|
Unaudited |
|
Audited |
| |
Half-year |
|
Half-year |
|
Year ended |
| |
30 June |
|
30 June |
|
31 December |
| Rmillion |
2007 |
|
2006 |
|
2006 |
|
| |
|
|
|
|
|
| Operating profit after corporate transactions |
3 310 |
|
470 |
|
1 020 |
| Net financing costs |
(37) |
|
(19) |
|
(23) |
| Profit on disposal of property, plant and equipment |
(6) |
|
(22) |
|
(45) |
| Non-cash items: |
|
|
|
|
|
| Depreciation |
106 |
|
131 |
|
272 |
| Other non-cash items |
(3 084) |
|
(105) |
|
(59) |
| Tax payments |
(108) |
|
(97) |
|
(152) |
| Change in working capital |
39 |
|
(28) |
|
(407) |
| |
|
|
|
| Cash flow from operating activities |
220 |
|
330 |
|
606 |
| |
|
|
|
|
|
| Expenditure on property, plant and equipment: |
|
|
|
|
|
| New |
(134) |
|
(98) |
|
(281) |
| Replacement |
(141) |
|
(74) |
|
(163) |
| Major plant overhaul costs capitalised |
(40) |
|
(39) |
|
(38) |
| Expenditure on intangible assets |
|
|
(1) |
|
(3) |
| Growing crop disposals |
|
|
1 |
|
7 |
| Proceeds on disposal of property, plant and equipment |
6 |
|
22 |
|
78 |
| Investments |
(9) |
|
(5) |
|
(257) |
| |
|
|
|
| Net cash flow before dividends and financing activities |
(98) |
|
136 |
|
(51) |
| Dividends paid |
(389) |
|
(294) |
|
(506) |
| |
|
|
|
| Net cash flow before financing activities |
(487) |
|
(158) |
|
(557) |
| Borrowings raised |
602 |
|
144 |
|
358 |
| Hedges of foreign loans |
|
|
(5) |
|
19 |
| Shares issued |
48 |
|
83 |
|
106 |
| Settlement of share-based payment awards |
(87) |
|
|
|
|
| Share issue expenses |
(9) |
|
|
|
|
| |
|
|
|
| Net increase/(decrease) in cash and cash equivalents |
67 |
|
64 |
|
(74) |
| |
|
|
|
|
|
| Balance at beginning of period |
509 |
|
526 |
|
526 |
| Adjustment to opening balance on unbundling of Hulamin |
(347) |
|
|
|
|
| Exchange rate translation gain |
3 |
|
46 |
|
57 |
| |
|
|
|
| |
|
|
|
| Cash and cash equivalents at end of period |
232 |
|
636 |
|
509 |
| |
|
|
|
|