N. CASH FLOW INFORMATION
N1 CASH GENERATED FROM OPERATIONS
 
  GROUP     COMPANY  
  30 June 2019  
R000 
30 June 2018 
R000
    30 June 2019  
R000 
30 June 2018 
R000 
 
Total profit for the period/year attributable to shareholders of the company  164 922  2 529 466        320 362  2 243 150    
Non-controlling interests share of profit after tax  (53 386) (8 543)       –  –    
Deferred and normal tax  (93 028) 39 486        1 730  11 838    
Profit before taxation  18 508  2 560 409        322 092  2 254 988    
Adjustments to profit before tax to cash generated from operations  2 187 695  (475 938)       1 726 325  (280 405)   
   Interest earned  (156 043) (312 550)       (77 152) (70 511)   
   Interest incurred  617 198  594 823        313 257  351 357    
   Change in fair value – investment property  337 238  (650 206)       158 832  (651 558)   
   Change in fair value – straight-line rental income accrual  87 887  3 847        81 399  4 696    
   Derecognition of financial guarantee  (185 686) (11 984)       (218 779) (77 269)   
   Change in fair value – investment in joint venture – sub-Saharan Africa  105 809  10 102        –  –    
   Change in fair value – financial asset  85 229  (87 761)       85 229  (87 761)   
   Change in fair value – derivatives  46 102  (29 085)       37 591  (14 760)   
                       
   Profit/(loss) on disposal – investment property  (2 825) (2 697)       (2 825) (2 697)   
   Impairment of shareholder/intercompany loan  1 350 727  166 441        1 485 389  –    
   Impairment of subsidiary  –  –        16 294  464 958    
   Provision for costs to sell  29 964  –        –  –    
   Dividends received  (221 190) (182 778)       (221 190) (241 672)   
                       
   Unrealised foreign exchange loss/gain  1 121  (8 860)       1 121  (340)   
   Movement in bad debts provision  47 052  (15 680)       23 712  –    
   Depreciation – BA  42 209  38 149        40 523  36 397    
   Share-based payment expense  2 496  10 877        2 496  10 877    
   Other non-cash items  407  1 424        428  (2 122)   
Operating profit before working capital changes (Cash generated from operations) 2 206 203  2 084 471        2 048 417  1 974 583    
Decrease in working capital  (56 271) 48 665        (14 393) 9 017    
Decrease/(increase) in receivables  (49 433) (616)       806  (33 503)   
(Decrease)/increase in payables  (6 838) 49 281        (15 199) 42 520    
Cash generated from operations 2 149 932  2 133 136      2 034 024  1 983 600   
N2 OTHER CASH FLOW NOTES
    GROUP     COMPANY  
    30 June 2019 R000 30 June 2018
R000
    30 June 2019 R000 30 June 2018
R000
 
N2.1 Taxation paid              
  Taxation payable at the beginning of the year
(1 251)      
  Charge for the year in statement of profit or loss and other comprehensive income (427) (4 381)      
  Taxation (receivable)/payable at the end of the year (2 530) 1 251      
  Taxation paid in cash (4 208) (3 130)      
N2.2 Dividends received              
  Dividend receivable at the beginning of the year 76 484 57 257     76 484 115 408  
  Dividend income 221 190 182 778     221 190 241 672  
  Dividends receivable at the end of year (16 278) (76 484)     (16 278) (76 484)  
  Dividends received in cash 281 396 163 551     281 396 280 596