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Annual report suite 2012

Company – Statement of cash flows

For the year ended 31 December


Figures in million (SA rands) Notes 2012 2011
Cash flows from operating activities      
Receipts from customers   16,951 19,380
Payments to suppliers and employees   (11,474) (10,072)
Cash generated from operations 28 5,477 9,308
Dividends received from subsidiaries   388 493
Taxation refund 27 502
Taxation paid 27 (663) (823)
Net cash inflow from operating activities   5,202 9,480
Cash flows from investing activities      
Capital expenditure      
– project capital   (1,401) (822)
– stay-in-business capital   (3,070) (3,066)
Expenditure on intangible assets   (369) (75)
Proceeds from disposal of tangible assets   43
Other investments acquired   (205)
Investments in associates and joint venture   (20) (7)
Loan advanced to joint venture   (5)
Loan repaid by joint venture   5
Dividends received   59
Additional investment in subsidiaries   (5,518) (1,528)
Proceeds from disposal of subsidiary   3,614 62
Intra-group loans advanced   (268)
Repayment of intra-group loans advanced   379
Interest received   94 138
Loans advanced   (150)
Repayment of loans advanced   27
Net cash outflow from investing activities   (6,879) (5,204)
Cash flows from financing activities      
Proceeds from issue of share capital   17 70
Share issue expenses   (4)
Proceeds from borrowings   1,500
Repayment of borrowings   (3) (700)
Finance costs paid   (28) (39)
Dividends paid 9 (1,727) (996)
Preference dividends paid 9 (368) (490)
Net cash outflow from financing activities   (609) (2,159)
Net (decrease) increase in cash and cash equivalents   (2,286) 2,117
Cash and cash equivalents at beginning of year   3,117 1,000
Cash and cash equivalents at end of year 19 831 3,117