COMMENTARY

CASH FLOW AND CAPITAL EXPENDITURE

Cash generated from operations increased by 8% to R1,5 billion (2019: R1,4 billion). This improvement was largely the result of a significant reduction in the investment in working capital from R516 million in the corresponding period last year to R13 million in the period under review. This resulted in a net cash position of R978 million as at 31 March 2020 (2019: R777 million). Capital expenditure incurred during the period amounted to R479 million (2019: R361 million).