Earnings releases


Interim Results for the half-year ended 30 June 2007


CASH FLOW STATEMENT

   
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