CONSOLIDATED STATEMENT OF CASH FLOWS
for the year ended 30 April 2014
Cash from operating activities
Dividends received
2014
R’m 2013
R’m 2014
R’m 2013
R’m
381 490 357 4 5 9
2 - 2 -
(120) (107)
(109)
Finance costs paid (124) (104) Tax paid (46)
(106) (117) (38) (74) (110) ( 7 4 )
(28) (544) 226 ( 5 3 9 )
79 (349) 317 (370)
Dividends paid
Changes in operating capital*
Net cash flows from/(used in) operating
activities
Net cash flows from/(used in) investment activities
4 (148) (365) (152)
(56) (72) (54) (67)
Proceeds from the disposal of property, plant and equipment 3 3 3 3
Proceeds from the sale of subsidiaries/ available for sale financial asset 1 26 1 12
Increase of investments in subsidiaries and joint ventures - (3) - 94 - 94 -
Purchase of property, plant and equipment
Net cash received on formation of Hinterland
Increase in other loans receivable
(3)
(38) (102) (409) (97)
(48) (522)
83 (497) Net cash (used)/from financing activities (102) 531 - Treasury shares (102) (19) - -
550 - 550
Net cash flows before financing activities
Increase in interest-bearing loans
Net (decrease)/increase in cash and cash equivalents
-
(19)
(48)
28
-
49 (9)
24 - Cash and cash equivalents - beginning of the year 33 5
Cash and cash equivalents - end of the year 30 49 (15) 33
Cash and cash equivalents of subsidiary sold
-
34
550
*Senwes’ grain marketing division has been operating in a new entity from 1 November 2013. Change in operating capital of this
division will no longer be on company level, but on group level.
NOTES TO THE FINANCIAL
STATEMENTS
SEGMENT INFORMATION
For management and control purposes, the Group is divided into business units based on their products, services and clients
and consists of the following reportable segments:
Financial Services Credit extension to agricultural producers and grain buyers. Senwes Credit
renders agricultural services to its growing client base. Certisure includes
commission received on short
-term crop and life insurance premiums and
administration fees.
Input Supply Sales at retail outlets, direct sales of farming input requirements and sales of
mechanisation goods and spare parts.
Market Access Income received from the handling and storage of agricultural produce.
Commission earned on grain marketing. Income received from the sale of own
grain.
(Senwes Credit &
Certisure Group)
(Senwes Village & Hinterland
Group)
(Senwes Grainlink,
Tradevantage
& Bunge Senwes)
54