summarised audited consolidated financial statements - Altron

Altron Summarised Audited Consolidated Financial Statements for the year ended 28 February 2013
SUMMARISED CONSOLIDATED STATEMENT OF CASH FLOWS
2013 2012
R millions (Audited) (Audited)
Continuing operations
Cash flows from operating activities 1 150 298
Cash generated by operations 1 878 2 023
Net finance expense (94) (55)
Changes in working capital 174 (540)
Taxation paid (375) (599)
Cash available from operating activities 1 583 829
Dividends paid, including to non-controlling interests (433) (531)
Cash flows utilised in investing activities (1 137) (680)
Cash flows from/(utilised in) financing activities 1 005 (326)
Discontinued operations
Cash flows utilised in operating activities (90) (160)
Cash flows utilised in investing activities (22) (225)
Cash flows (utilised in)/from financing activities (146) 363
Cash flows on disposal of discontinued operations (429) –
(687) (22)
Net increase/(decrease) in cash and cash equivalents 331 (730)
Net cash and cash equivalents at the beginning of the year 553 1 253
Effect of exchange rate fluctuations on cash held 33 19
Cash classified as held for sale – 11
Net cash and cash equivalents at the end of the year 917 553
Continuing operations 917 557
Discontinued operations – (4)
Note:
For the year ended 29 February 2012, R137 million has been reclassified from cash flows from operating activities (movements in working capital) to cash flows
utilised in investing activities. This represents investments made during the prior financial year by operating entities in respect of additions to contract fulfilment
costs. Management believes that this better represents the nature of the cash flows being of an investing rather than an operating nature.
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