N. CASH FLOW INFORMATION
N1 CASH GENERATED FROM OPERATIONS
 
Group    Company   
June 2020 
R'000 		    June 2019 
R'000 		     June 2020 
R'000 		    June 2019 
R'000 		   
Total (loss)/profit for the year attributable to shareholders of the Company  (3 401 849)    164 922     (3 107 020)    320 362    
Non-controlling interests share of (loss)/profit after tax  (121 177)    (53 386)    –     –    
Deferred and normal tax  7 150     (93 028)    7 637     1 730    
(Loss)/Profit before taxation  (3 515 876)    18 508     (3 099 383)    322 092    
Adjustments to (loss)/profit before tax to cash generated from operations  5 324 326     2 187 695     4 758 047     1 726 325    
   Interest earned  (88 997)    (156 043)    (58 751)    (77 152)   
   Interest incurred  637 392     617 198     412 133     313 257    
   Change in fair value - investment property  4 668 419     337 238     4 277 145     158 832    
   Straight-line rental income accrual  (118 286)    87 887     (125 927)    81 399    
   Derecognition of financial guarantee  –     (185 686)    –     (218 779)   
   Change in fair value - financial  16 665     –     (54 497)    16 294    
   Change in fair value - investment in joint venture: sub-Saharan Africa  –     105 809     –     –    
   Change in fair value - financial asset  (314 528)    85 229     (314 528)    85 229    
   Change in fair value - derivatives  221 200     46 102     218 433     37 591    
   Profit on disposal - investment property  –     (2 825)    –     (2 825)   
   Impairment of loans receivable  289 974     1 350 727     44 620     1 485 389    
   Impairment of subsidiary  –     –     398 020     –    
   Other impairments  –     29 964     –     –    
   Dividends received  (120 630)    (221 190)    (120 630)    (221 190)   
   Unrealised foreign exchange (gain)/loss  (1 876)    1 121     (9 669)    1 121    
   Movement in impairment of trade receivables  77 682     47 052     35 786     23 712    
   Depreciation - PPE  45 860     42 209     44 462     40 523    
   Share-based payment expense  11 795     2 496     11 795     2 496    
   Other non-cash items  (344)    407     (345)    428    
Operating profit before working capital changes  1 808 450     2 206 203     1 658 664     2 048 417    
Decrease in working capital  (75 011)    (56 271)    (46 537)    (14 393)   
(Increase)/Decrease in receivables  (121 652)    (49 433)    (101 201)    806    
(Increase)/Decrease in payables  46 641     (6 838)    54 664     (15 199)   
Cash generated from operations  1 733 439     2 149 932     1 612 127     2 034 024    

N2 OTHER CASH FLOW NOTES
 
  Group Company
Note   June 2020
R'000		   June 2019
R'000		   June 2020
R'000		   June 2019
R'000		  
N2.1
Taxation paid
Taxation (receivable)/payable at the beginning of the year   2 530   (1 251)   –   –  
FCTR movement on tax payable at beginning of the year   569   –   –   –  
Charge for the year in statement of profit or loss and other comprehensive income   487   (427)   –   –  
Taxation (receivable)/payable at the endof the year   –   (2 530)   –   –  
Taxation received/(paid) in cash   3 586   (4 208)   –   –  
N2.2
Dividends received
Dividend receivable at the beginning of the year   16 278   76 484   16 278   76 484  
Dividend income   120 630   221 190   120 630   221 190  
Dividends receivable at the end of the year   –   (16 278)   –   (16 278)  
Dividends received in cash   136 908   281 396   136 908   281 396  
N2.3
Dividends paid
Dividend declared during the year   1 705 815   1 956 467   1 709 572   1 959 628  
Dividends payable at the end of the year I3.2   (788 347)   –   (790 041)   –  
Dividends paid in cash   917 468   1 956 467   919 531   1 959 628