Annual Report - JD Group

33
Notes to the Group cash flow statement
Restated
2004 2003
for the year ended 31 August Rm Rm
a Cash generated by trading
Operating income 1 265 747
Non-cash items
Depreciation 94 67
Surplus on disposal of property, plant and equipment (7) (2)
Amortisation
– goodwill 2 5
– trademark 14 14
Loss on disposal and closure of BoConcept 50 –
Loss on closure of Profurn legacy stores 34 –
Revaluation of financial liabilities 1 (15)
1 453 816
b Increase in working capital
Increase in inventories (45) (41)
Decrease in trade and other receivables 24 (120)
Decrease in trade and other payables (23) 53
Unrealised foreign currency translation 6 –
(38) (108)
c Finance costs - net
Interest paid (note 4) (207) (203)
Interest received (note 4) 62 49
Fair value adjustments on financial assets and liabilities 1 (9)
(144) (163)
d Taxation paid
Amount receivable/(payable) at beginning of year 16 (63)
At acquisition adjustment (1) –
Per income statement (note 6) (148) (24)
Amount payable/(receivable) at end of year 10 (16)
(123) (103)
e Dividends paid
Amount payable at beginning of year (111) (25)
Declared (406) (158)
Amount payable at end of year 253 111
(264) (72)
f Acquisition of Profurn
Property, plant and equipment 64
Deferred taxation 206
Inventories 271
Trade and other receivables 1 509
Taxation (66)
Interest bearing liabilities (63)
Trade and other payables (1 003)
Investments and loans 52
Treasury shares 13
Trademark 329
Deferred taxation on trademark (99)
1 213
Outside shareholders –
Bank overdraft acquired (59)
1 154
Paid for by the issue of shares 1 128
Cash paid 26
g Proceeds on disposal of BoConcept
Property, plant and equipment 23
Inventories 3
Trade and other receivables 6
Goodwill impairment 42
74
Loss on disposal and closure of BoConcept (50)
Proceeds 24
h Cash and cash equivalents
Bank balances and cash 1 328 444
Bank overdrafts – (1)
1 328 443
Bank balances and cash include a margin deposit on interest rate swaps amounting to R21 million (2003: R6 million).