88 / 198
For the year ended 31 May 2016
BLUE LABEL INTEGRATED ANNUAL REPORT 2016
86
GROUP STATEMENT OF CASH FLOWS
Notes
2016
R’000
2015
R’000
Cash flows from operating activities
Cash received from customers
26 271 886
21 499 455
Cash paid to suppliers and employees
(25 527 701)
(21 069 649)
Cash generated by operations
1.6
744 185
429 806
Interest received
42 082
15 995
Interest paid
(48 207)
(67 811)
Taxation paid
7.3
(305 118)
(245 495)
Net cash generated from operating activities
432 942
132 495
Cash flows from investing activities
Acquisition of intangible assets
4.2
(85 175)
(125 366)
Proceeds on disposal of intangible assets
*
308
Proceeds on disposal of property, plant and equipment
3 585
3 116
Acquisition of property, plant and equipment
4.3
(41 956)
(53 318)
Disposal of subsidiaries net of cash disposed
2.2
13 219
2 334
Acquisition of subsidiaries net of cash acquired
—
(157 460)
Acquisition of associate and joint venture
*
(100)
Proceeds on disposal of associate
—
94 897
Loans advanced to Blue Label Mexico**
—
(48 979)
Capital contribution to Blue Label Mexico
(42 654)
—
Capital contribution to Oxigen Services India
(159 425)
—
Equity loans advanced to Lornanox
(58 883)
—
Loans advanced to associates and joint ventures
(2 213)
(14 353)
Loans repaid by associates and joint ventures
593
—
Loans granted
(59 182)
(17 837)
Loans receivable repaid
31 876
7 522
Settlement of contingent consideration
(1 931)
(19 515)
Contingent proceeds received
5 813
—
Net cash utilised in investing activities
(396 333)
(328 751)
Cash flows from financing activities
Interest-bearing borrowings repaid
—
(3 573)
Interest-bearing borrowings raised
—
4 419
Acquisition of treasury shares
6
(23 052)
(19 131)
Dividends paid to non-controlling interest
(4 000)
(4 874)
Dividends paid to equity holders of the parent
(209 098)
(182 117)
Net cash utilised in financing activities
(236 150)
(205 276)
Net decrease in cash and cash equivalents
(199 541)
(401 532)
Cash and cash equivalents at the beginning of the year
788 411
1 184 131
Exchange gains on cash and cash equivalents
157
5 812
Cash and cash equivalents at the end of the year
3.1.3
589 027
788 411
* Less than R1 000.
** These loans were subsequently capitalised. Refer to note 2.1.