COMPANY STATEMENT OF CASH FLOWS¬† ¬†for the year ended 23 December 2012

  Notes  December 2012
26 weeks
Rm
  June 2012
52 weeks
Rm

Cash flow from operating activities 

       
Operating cash/(deficit) before working capital movements  11.1  11.8    (112.7)
Working capital movements  11.2  (15.7)   (2.2)
Cash generated from operations    (3.9)   (114.9)
Finance expense    (1.6)  
Finance income    1.5    1.1 
Dividends received    474.8    946.5 
Taxation paid  11.3  (0.1)   (65.7)
Dividends paid  11.4  (330.3)   (873.0)
Net cash inflow/(outflow) from operating activities    140.4    (106.0)

Cash flow from investing activities 

       
Loans to subsidiaries    6.1    (335.0)
Loans from subsidiaries    (73.6)   567.8 
Other investing activities  11.5  (0.5)   (0.8)
Net cash outflow from investing activities    (68.0)   232.0 

Cash flow from financing activities 

       
Net acquisition of treasury shares  11.6  (72.6)   (127.0)
Net cash outflow from financing activities    (72.6)   (127.0)
Net decrease in cash and cash equivalents    (0.2)   (1.0)
Cash and cash equivalents at the beginning of the year    7.8    8.8 
Cash and cash equivalents at the end of the year    7.6    7.8 

  • With the exception of the accounting policies relevant to the basis of consolidation, the accounting policies are in line with the Massmart Group accounting policies. Refer to note 1 in the Group Financial Statements.