| |
|
2020
R’m |
|
2019
R’m |
|
|
|
|
|
|
|
| Reconciliation of profit before tax to cash generated from operations |
|
|
|
|
| Profit before tax |
581 |
|
3 706 |
|
| Adjusted for: |
|
|
|
|
| Share of associates’ and joint ventures’ net profit after tax |
(14) |
|
(18) |
|
| Depreciation on property, plant and equipment |
1 594 |
|
1 236 |
|
| Amortisation of intangible assets |
604 |
|
586 |
|
| Net finance costs (refer note 5) |
825 |
|
998 |
|
| Fair value adjustments to contingent consideration |
37 |
|
(2) |
|
| Fair value loss on derivative financial instruments |
5 |
|
438 |
|
| Gain on derecognition of lease asset and liability |
(75) |
|
– |
|
| Impairment of assets and investments |
798 |
|
164 |
|
| Profit on disposal of investment in joint venture |
– |
|
(1 501) |
|
| Profit on disposal of investment in subsidiary |
– |
|
(11) |
|
| Loss on disposal of property, plant and equipment |
6 |
|
– |
|
| Transaction costs relating to acquisitions and disposals |
17 |
|
148 |
|
| Other |
4 |
|
– |
|
| Share-based payment reserve charge |
88 |
|
81 |
|
| Operating lease expense – straight-line |
– |
|
61 |
|
| Retirement benefit asset and post-employment medical aid income |
(32) |
|
(39) |
|
| Employer surplus asset payments |
83 |
|
30 |
|
| Cost of inventories written off as expired stock |
11 |
|
9 |
|
| Operating cash flow before working capital changes |
4 532 |
|
5 886 |
|
| Working capital changes: |
|
|
|
|
| |
Inventories |
(489) |
|
(27) |
|
| |
Trade and other receivables |
155 |
|
(127) |
|
| |
Trade and other payables (including provisions) |
364 |
|
195 |
|
| Cash generated from operations |
4 562 |
|
5 927 |
|