Download the National Breweries Zambia 2009 Annual ... - SABMiller

Financial Statements
for the year ended 31st March 2009 (cont.)
Liquidity risk
Prudent liquidity risk management includes maintaining sufficient cash balances, and the availability of funding
from an adequate amount of committed credit facilities. Due to the dynamic nature of the underlying businesses,
the finance department maintains flexibility in funding by maintaining availability under committed credit lines.
Exposure in this aspect is limited as the Company is purely a cash business.
Management monitors rolling forecasts of the company’s liquidity reserve on the basis of expected cash flow.
The table below analyses the company’s financial liabilities that will be settled on a net basis into relevant maturity
groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts
disclosed in the table below are the contractual undiscounted cash flows. Balances due within 12 months equal
their carrying balances, as the impact of discounting is not significant.
Within
3 months
At 31 March 2009:
- bank overdraft 3 796
- trade and other payables 31 198
At 31 March 2008:
- bank overdraft -
- trade and other payables 20 411
Capital management
The company’s objectives when managing capital are to safeguard the company’s ability to continue as a going
concern in order to provide returns for shareholders and to maintain an optimal capital structure to reduce the
cost of capital. In order to maintain or adjust the capital structure, the company may limit the amount of dividends
paid to shareholders, issue new shares, or sell assets to reduce debt.
5 Revenue
2009 2008
Sale of goods 188 652 123 357
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