98 / 248
For the year ended 31 May 2015
96
BLUE LABEL INTEGRATED ANNUAL REPORT 2015
GROUP STATEMENT OF CASH FLOWS
Notes
2014
R’000
Cash flows from operating activities
Cash received from customers
21 499 455
18 708 547
Cash paid to suppliers and employees
(21 069 649)
(17 579 539)
Cash generated by operations
23
429 806
1 129 008
Interest received
15 995
24 613
Interest paid
(67 811)
(22 751)
Taxation paid
24
(245 495)
(223 538)
Net cash generated from operating activities
132 495
907 332
Cash flows from investing activities
Acquisition of intangible assets
5
(125 366)
(102 778)
Warranty refund
—
15 501
Proceeds on disposal of intangible assets
308
1 209
Disposal of subsidiaries net of cash disposed
25
2 334
—
Acquisition of subsidiaries net of cash acquired
26
(157 460)
(273 242)
Acquisition of associate and joint venture
6
(100)
*
Proceeds on disposal of associate
6
94 897
—
Loans advanced to Blue Label Mexico**
(48 979)
(85 765)
Loans advanced to associates and joint ventures
(14 353)
(603)
Loans granted
(17 837)
(16 155)
Loans receivable repaid
7 522
28 662
Settlement of contingent consideration
(19 515)
—
Dividends received from associates and joint ventures
—
11 118
Proceeds on disposal of property, plant and equipment
3 116
1 144
Acquisition of property, plant and equipment
(53 318)
(46 311)
Net cash utilised in investing activities
(328 751)
(467 220)
Cash flows from financing activities
Interest-bearing borrowings repaid
(3 573)
(112)
Interest-bearing borrowings raised
4 419
962
Acquisition of non-controlling interest
—
(16 190)
Acquisition of treasury shares
13
(19 131)
(11 120)
Dividends paid to non-controlling interest
(4 874)
(1 805)
Dividends paid
(182 117)
(168 627)
Net cash utilised in financing activities
(205 276)
(196 892)
Net (decrease)/increase in cash and cash equivalents
(401 532)
243 220
Cash and cash equivalents at the beginning of the year
1 184 131
941 282
Translation difference
5 812
(371)
Cash and cash equivalents at the end of the year
12
788 411
1 184 131
* Less than R1 000.
** These loans were subsequently capitalised. Refer to note 6.
The notes on pages 97 to 193 are an integral part of these consolidated financial statements.
2015
R’000