| |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED |
| for the year ended 30 June 2007 |
| |
All monetary amounts are expressed
in millions of Rands |
2007 |
Restated
2006 |
| 35. |
NET CASH INFLOW ON DISPOSAL/CLOSURE OF BUSINESSES |
|
|
|
During the year the Group disposed of/closed businesses (note 29) with a fair value of assets sold and liabilities released of: |
|
|
|
Inventories |
63,7 |
35,7 |
|
Other intangibles assets |
0,8 |
– |
|
Accounts receivable and contracts in progress |
134,2 |
42,6 |
|
Deferred taxation |
4,5 |
– |
|
Investments |
3,3 |
– |
|
Property, plant and equipment |
343,0 |
33,4 |
|
Accounts payable |
(149,2) |
(38,8) |
|
Current taxation liability |
(6,6) |
– |
| |
(Loss)/profit on disposal/closure of businesses |
(61,0) |
19,8 |
|
Total proceeds |
332,7 |
92,7 |
|
Less: Cash balances in businesses disposed |
(0,5) |
– |
|
Less: Balance remaining on loan account |
– |
(45,0) |
| |
|
332,2 |
47,7 |
| 36. |
NET MOVEMENT IN BORROWINGS |
|
|
|
Loans raised |
358,5 |
318,3 |
| |
Loans repaid |
(199,7) |
(49,9) |
|
|
158,8 |
268,4 |
|
Capitalised leases repaid |
– |
(40,7) |
| |
|
158,8 |
227,7 |
| 37. |
NET CASH AND CASH EQUIVALENTS |
|
|
| 37.1 |
Cash and cash equivalents |
|
|
|
Cash and cash equivalents included in the cash flow statement comprise the following amounts: |
|
|
|
Bank balances and cash |
2 809,2 |
1 808,3 |
|
Bank overdrafts (note 23) |
(181,5) |
(166,3) |
| |
|
2 627,7 |
1 642,0 |
| 37.2 |
Restricted cash |
|
|
|
Cash and cash equivalents at the end of the year include bank balances and cash that are restricted from immediate use due to: |
|
|
|
– |
margin deposits |
– |
2,7 |
|
– |
other agreements with banks and other financial institutions |
18,8 |
24,3 |
|
– |
held in trust accounts for sublease tenants |
5,7 |
5,9 |
|
– |
held in joint ventures |
907,2 |
183,8 |
| |
|
931,7 |
216,7 |
| 37.3 |
Non-cash items |
|
|
|
Non cash items include those marked as such in note 32. |
|
|
| |
The acquisition proceeds for Concor Limited were paid on 3 July 2006. |
|
|
|
| |
| |
|
|
