Massmart Annual Report 2008

Cash flow statement
for the year ended 30 June 2008

    2008  2007 
  Notes Rm  Rm 
Cash flow from operating activities      
Operating cash before working capital movements 11.1 69,8  7,8 
Working capital movements 11.2 (93,0) 11,1 
Cash generated from operations   (23,2) 18,9 
Interest received   5,9  1,1 
Interest paid   (7,1) (8,5)
Investment income   1 155,5  1 047,2 
Taxation paid 11.3 (65,5) (56,9)
Dividends paid 11.4 (721,4) (565,8)
Net cash inflow from operating activities   344,2  436,0
Other investing activities   (262,2) (210,3)
Net cash outflow from investing activities   (262,2) (210,3)
Net acquisition of treasury shares 11.5 (99,7) (226,0)
Proceeds from current borrowings   –  0,1 
Net cash outflow from financing activities   (99,7) (225,9)
Net decrease in cash and cash equivalents   (17,7) (0,2)
Cash and cash equivalents at the beginning of the year   16,5  16,7 
Cash and cash equivalents at the end of the year   (1,2) 16,5 
The accounting policies are in line with the Massmart Group accounting policies, of the annual financial statements.