Download the Annual report 2011 - Unisa
Download the Annual report 2011 - Unisa
Download the Annual report 2011 - Unisa
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UNISA ANNUAL REPORT <strong>2011</strong><br />
NOTE 22: CASH GENERATED FROM OPERATIONS<br />
Reconciliation of net surplus to cash generated from operations:<br />
| 114 |<br />
<strong>2011</strong> 2010<br />
R’000 R’000<br />
Net surplus 639 938 797 685<br />
Adjustments for:<br />
Finance Lease payments (31 535) (28 247)<br />
Pension fund loss/(surplus) recognised 20 238 (4 861)<br />
Fair value adjustments (174 108) (377 091)<br />
Depreciation and amortisation 154 327 134 963<br />
(Profit)/Loss on sale property plant and<br />
equipment<br />
(5 333) 9 063<br />
Profit on sale of investments (3 025) (1 389)<br />
Investment income (265 250) (269 171)<br />
Finance costs 7 437 1 659<br />
Net foreign exchange differences 542 4 503<br />
Decrease in non-current receivables 81 2 857<br />
(Increase)/Decrease in post-employment<br />
obligation<br />
(20 478) 75 154<br />
(Increase)/Decrease in funds administered<br />
on behalf of <strong>the</strong> DHET<br />
(900) 2 171<br />
Changes in working capital (excluding <strong>the</strong><br />
effects of acquisition and disposal):<br />
133 359 (9 292)<br />
Accounts and o<strong>the</strong>r receivables 45 752 (29 473)<br />
Inventories 16 847 (49 235)<br />
Trade and o<strong>the</strong>r payables 70 760 69 416<br />
Cash generated from operations 455 293 338 004
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