CUT Annual Report 2011
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| <strong>CUT</strong> ANNUAL REPORT <strong>2011</strong><br />
Statement of Cash flows for the year<br />
ended 31 December <strong>2011</strong><br />
<strong>2011</strong> 2010<br />
R ‘000 R ‘000<br />
Operating activities<br />
Cash generated from operations 45 409 69 084<br />
Net cash flows from operating activities 45 409 69 084<br />
Investing activities<br />
Acquisition of property, plant and equipment (103 890) (63 004)<br />
Proceeds on the disposal of assets 12 17<br />
Non current financial assets - realisation at fair value / matured 40 058 47 132<br />
Increase in other non-current financial assets (40 000) (51 028)<br />
Interest received 13 054 19 213<br />
Net cash flows used in investing activities (90 766) (47 670)<br />
Financing activities<br />
Repayment of borrowings ( 111) (4 646)<br />
Interest paid ( 313) (2 292)<br />
Increase in Government grant 24 200 -<br />
Net cash flows used in financing activities 23 775 (6 939)<br />
Net increase / (decrease) in cash and cash equivalents (21 582) 14 476<br />
Cash and cash equivalents at 1 January 224 281 209 805<br />
Cash and cash equivalents at end of year 202 699 224 281
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