Statement of cash flowsfor the year ended 24 June 2012

  Notes 2012
Rm
  2011
Rm
Cash flow from operating activities        
Operating (deficit)/cash before working capital movements 11.1 (112.7)   17.7
Working capital movements 11.2 (2.2)   14.2
Cash (deficit)/generated from operations   (114.9)   31.9
Interest received   1.1   0.7
Investment income   946.5   2,030.4
Taxation paid 11.3 (65.7)   (79.1)
Dividends paid 11.4 (873.0)   (846.1)
Net cash (outflow)/inflow from operating activities   (106.0)   1,137.8
Cash flow from investing activities:        
Loans to subsidiaries   (490.4)   (911.0)
Other investing activities   722.4   (576.1)
Net cash inflow/(outflow) from investing activities   232.0   (1,487.1)
Cash flow from financing activities:        
Shares issued (net of costs)     481.6
Net acquisition of treasury shares 11.5 (127.0)   (140.2)
Net cash (outflow)/inflow from financing activities   (127.0)   341.4
Net decrease in cash and cash equivalents   (1.0)   (7.9)
Cash and cash equivalents at the beginning of the year   8.8   16.7
Cash and cash equivalents at the end of the year   7.8   8.8

  • The accounting policies are in line with the Massmart Group accounting policies. Refer to note 1 of the Group financial statements.