Company					Group
2020	2019		(R’million)	Notes	2020	2019
0,6	225,9		Cash operating profit	A	3 005,7	3 401,5
(4,3)	315,4		Working capital changes	B	(52,5)	90,7
(3,7)	541,3		Cash generated from operations		2 953,2	3 492,2
7,5	56,7		Finance income and income from investments received		27,4	45,8
–	(2,6)		Finance costs paid		(116,0)	(67,0)
892,1	1 323,2		Dividends received from associate companies and subsidiaries		105,5	282,4
(20,9)	(32,1)		Taxation paid	C	(620,3)	(852,0)
875,0	1 886,5		Cash available from operations		2 349,8	2 901,4
(823,8)	(2 522,4)		Dividends paid	D	(740,6)	(2 284,5)
51,2	(635,9)		Net cash inflow/(outflow) from operating activities		1 609,2	616,9
			Purchase of property, plant and equipment	E	(937,1)	(1 103,5)
			Loans advanced		(20,0)	–
			Proceeds on disposal of shares in held for sale investment		9,9
			Proceeds on disposal of intangible assets		0,3	–
			Proceeds from disposal of property, plant, equipment and intangible assets		49,8	2,4
			Cash on disposal of division (refer note 33)		100,0	–
57,7	(181,4)		Proceeds/(advances) in loans to subsidiaries, associates and other		–	–
(0,7)	(1,5)		Acquisition of investments		–	–
			Movement in trademark		–	2,3
			Cash on disposal of subsidiary (refer note 33)		–	307,7
	581,5		Proceeds on sale of associate investment		–	757,9
57,0	398,6		Net cash (outflow)/inflow from investing activities		(797,1)	(33,2)
108,2	(237,3)		Net cash inflow/(outflow) before financing activities		812,1	583,7
			Repayment of lease liabilities		(136,6)	–
			Black Managers Trust (BMT) shares exercised		3,9	15,5
			Shares exercised relating to equity-settled scheme		(9,1)	(33,0)
			Long-term borrowings repaid		–	(2,7)
			Short-term borrowings repaid		(104,0)	(79,8)
			Net cash outflow from financing activities		(245,8)	(100,0)
108,2	(237,3)		Net increase/(decrease) in cash and cash equivalents		566,3	483,7
			Effect of exchange rate changes on cash and cash equivalents		51,5	8,8
67,4	304,7		Cash and cash equivalents at the beginning of the year	F	1 161,7	669,2
175,6	67,4		Cash and cash equivalents at end of the year	G	1 779,5	1 161,7