| |
2018
R’m |
|
| Reconciliation of profit before tax to cash generated from operations |
|
|
|
|
| Net profit before tax |
3 706 |
|
2 837 |
|
| Adjusted for: |
|
|
|
|
| Share of associates’ and joint ventures’ net (profit)/loss after tax |
(18) |
|
105 |
|
| Depreciation on property, plant and equipment |
1 236 |
|
1 133 |
|
| Amortisation of intangible assets |
586 |
|
537 |
|
| Net finance costs (refer note 5) |
998 |
|
962 |
|
| Fair value adjustments to contingent consideration |
(2) |
|
18 |
|
| Fair value loss/(gain) on derivative financial instruments |
438 |
|
(127) |
|
| Gain on derecognition of lease assets and liabilities |
– |
|
(79) |
|
| Impairment of assets and investments |
164 |
|
34 |
|
| Profit on disposal of investment in joint venture |
(1 501) |
|
– |
|
| Profit on disposal of investment in subsidiary |
(11) |
|
– |
|
| Profit on disposal of property, plant and equipment |
– |
|
(35) |
|
| Transaction costs relating to acquisitions and disposals |
148 |
|
38 |
|
| Other |
– |
|
4 |
|
| Share-based payment reserve charge |
81 |
|
77 |
|
| Operating lease expense – straight-line |
61 |
|
81 |
|
| Retirement benefit asset and post-employment medical aid income |
(39) |
|
(34) |
|
| Employer surplus asset payments |
30 |
|
– |
|
| Cost of inventories written off as expired stock |
9 |
|
9 |
|
| Operating cash flow before working capital changes |
5 886 |
|
5 560 |
|
| Working capital changes: |
|
|
|
|
| Inventories |
(27) |
|
(7) |
|
| Trade and other receivables |
(127) |
|
(23) |
|
| Trade and other payables |
195 |
|
(27) |
|
| Cash generated from operations |
5 927 |
|
5 503 |
|
| |
|
|
|
|