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Tiger Brands Limited

Annual Financial Statements

Annual financial statements

Statements of cash flows

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FOR THE YEAR ENDED 30 SEPTEMBER 2022

COMPANY       GROUP
2022 2021   (R’million) Notes 2022 2021
(7,1) 101,4   Cash operating profit A 4 271,0 3 845,0
20,6   Working capital changes B (1 630,2) 109,8
13,5 101,4   Cash generated from operations   2 640,8 3 954,8
21,7 3,4   Finance income and income from investments received   44,7 30,6
  Finance costs paid   (105,8) (68,4)
2 633,7 1 570,0   Dividends received from associated companies and subsidiaries 15 372,0 115,4
(23,2) (8,6)   Taxation paid C (961,5) (735,4)
2 645,7 1 666,2    Cash available from operations   1 990,2 3 297,0
(1 547,4) (1 879,2)   Dividends paid D (1 386,4) (1 684,3)
1 098,3 (213,0)   Net cash inflow/(outflow) from operating activities   603,8 1 612,7
      Purchase of property, plant and equipment E (961,0) (1 013,7)
1,5   Loans (advanced)/repaid 17 (19,0) (26,0)
      Proceeds on disposal of intangible assets   56,0
      Proceeds on disposal of property, plant, equipment and vehicles   3,1 30,8
      Cash on disposal of division
  153,0
496,6 118,9   Proceeds on loans to subsidiaries and other loans
 
      Funds held in escrow   (46,2) (196,1)
(0,6)   Purchase of investments   (5,4)
2,0   Proceeds on disposal of investments   2,4 0,3
      Insurance proceeds on property, plant and equipment received relating to civil unrest 3.2 28,3
138,9   Proceeds on disposal of investment in associated company   139,9
498,6 258,7    Net cash (outflow)/inflow from investing activities   (997,8) (855,8)
1 596,9 45,7    Net cash (outflow)/inflow before financing activities   (394,0) 756,9
      Repayment of principal portion of lease liabilities 26.1 (178,6) (216,7)
      Black Managers Trust (BMT) shares exercised   5,0 3,5
      Shares exercised relating to equity-settled scheme   (1,0) (17,9)
(1 453,1)   Repurchase of shares   (1 453,1)
      Short-term borrowings raised/(repaid)   972,8 (14,2)
(1 453,1)   Net cash outflow from financing activities   (654,9) (245,3)
143,8 45,7   Net (decrease)/increase in cash and cash equivalents    (1 048,9) 511,6
23,1   Effect of exchange rate changes on cash and cash equivalents   90,7 (129,3)
      Reclassification of cash and cash equivalents to other receivables 20.1 (87,7)
221,3 175,6   Cash and cash equivalents at the beginning of the year F 2 161,8 1 779,5
388,2 221,3   Cash and cash equivalents at the end of the year G 1 115,9 2 161,8