Unaudited Interim Financial Report and Cash Dividend Declaration for the 6 months ended 31 March 2016

Condensed summarised consolidated statement
of cash flows
For the six months ended 31 March 2019

Six months ended 31 March
R million
Notes 2019 (Unaudited) 2018 (Unaudited) 30 September 2018 (Audited)
EBITDA 698 636 1 699
Decrease/(Increase) in net working capital 93 (269) (498)
Other net non-cash movements 55 25 (79)
Cash generated from operations 846 392 1 122
Net cash interest income and dividends 1 12 20
Taxation paid (205) (210) (445)
Dividends paid (including to non-controlling interests) (606) (576) (781)
Net inflow/(outflow) from operating activities 36 (382) (84)
Net outflow from investing activities (131) (351) (597)
Capital expenditure (59) (54) (162)
Net inflow arising from disposal of businesses 15
Gross cash flows on acquisition of businesses 11 (227) (228)
Increase in total rental and finance lease receivables (82) (195) (375)
Net other investments and loans repaid/(granted) 1 (6) (3)
Investments net of other capital proceeds1 (6) 131 171
Net outflow from financing activities (52) (88) (85)
Shares issued 1 6 15
Investment in treasury shares (85) (115)
Net long term borrowings raised/(repaid) 9 (4) 20
Shares acquired in terms of the Conditional
Share Plan
(74) (2) (2)
Net transactions with non-controlling interests 12 (3) (2)
Exercise of Ryonic put option (1)
Decrease in net cash resources
(147) (821) (766)
Net cash resources at the beginning of
the period
572 1 325 1 325
Net exchange translation adjustments to net cash resources2
1 13
Net cash resources at the end of the period
426 504 572
Cash and cash equivalents 894 1 055 765
Bank overdrafts (175) (344) (126)
Short-term borrowings (293) (207) (67)
Net cash resources at the end of the period 426 504 572
1 In the prior period, this includes a withdrawal from investments in long-dated money market instruments (September 2018: R130 million).
2 In March 2018, these effects were insignificant.