136 / 156
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 30 June 2015
30. Notes to the statements of cash flows
30.1 The following convention applies to figures other than adjustments:
Outflows of cash are represented by figures in brackets.
Inflows of cash are represented by figures without brackets.
Note
GROUP
Year to
June 2015
R000
GROUP
Year to
June 2014
R000
COMPANY
Year to
June 2015
R000
COMPANY
Year to
June 2014
R000
30.2 Cash generated from operations
Net income before taxation
3 798 599
1 974 309
3 842 722
1 820 044
Adjustments:
(2 081 065)
(400 859)
(2 124 459)
(288 944)
Change in fair value: Investment property
(2 467 113)
(1 655 897)
(2 467 113)
(1 613 720)
Listed property securities
82 266
82 266
Derivative instruments
(19 556)
(4 276)
(35 645)
(6 294)
Impairment: Intercompany loan
5 682
Investment in subsidiary
4 280
7 779
Goodwill
4 280
7 779
(Profit)/loss on disposal: Investment property
(24 243)
(4 460)
(24 243)
(4 460)
Listed property securities
(168 869)
(168 869)
Subsidiary
30 011
Investment in associate
(17 431)
(21 400)
Share of income from associate
(652)
(462)
Share of loss from joint venture
17 447
Unrealised foreign exchange gain
(728)
Dividends received
(44 872)
(36 943)
Depreciation
20 054
19 931
19 895
16 431
Share-based payment
6 707
1 649
6 707
1 649
Interest received
(157 344)
(65 645)
(10 328)
(19 678)
Interest paid
508 991
460 366
427 506
421 162
Debenture interest paid
1 147 443
1 147 798
Gain on bargain purchase (African Land)
(102 895)
Amortisation of debenture premium
(102 806)
(102 806)
Loss on write-off of assets
82
2 468
82
2 457
Other non-cash items
271
(20)
2
Operating profit before working capital changes
1 717 534
1 573 450
1 718 263
1 531 100
Increase in working capital
21 230
151 895
18 296
153 175
Decrease in receivables
19 620
107 013
14 762
109 463
Increase in working capital included in
held for sale
13
(14 740)
(14 740)
Increase in payables
16 350
44 882
18 274
43 712
Cash generated from operations
1 738 764
1 725 345
1 736 559
1 684 275
30.3 Debenture interest paid to unitholders
Interest payable at beginning of year
(585 877)
(517 831)
(585 877)
(517 831)
Per statements of comprehensive income
(1 147 443)
(1 147 798)
Interest payable at end of year
585 877
585 877
(585 877)
(1 079 397)
(585 877)
(1 079 755)
134
Hyprop Investments Limited
Integrated Report 2015
FINANCIAL STATEMENTS