30 June 30 June 31 December
  (Unaudited) (Unaudited) (Audited)
  2010 2009* 2009
  R000 R000 R000
Cash generated from operations 392 909 584 213 917 747
Net interest paid (22 926) (72 940) (91 367)
Net dividends paid (166 318) (278 224) (460 868)
Taxation paid (99 275) (164 864) (240 459)
  104 390 68 185 125 053
Net bank advances to customers and other short-term negotiables (240 089) (151 510) (150 013)
Net cash flows utilised in operating activities before ship and locomotive sales and purchases (135 699) (83 325) (24 960)
Net proceeds on disposal of ships and locomotives 11 632 430 464 756 728
  Proceeds on disposal of ships and locomotives 11 632 541 957 1 257 467
  Cash payments on ship options exercised (111 493) (500 739)
Capital expenditure on ships and locomotives (608 498) (581 488) (793 207)
Net cash flows utilised in operating activities (732 565) (234 349) (61 439)
Acquisition of property, terminals, vehicles and equipment and investments (398 615) (219 328) (578 139)
Proceeds from disposal of property, terminals, vehicles and equipment and investments 28 395 56 766 51 498
Intangible assets acquired (4 753) (1 253) (36 283)
Loans repaid by joint venture and associate companies 27 386
Disposal of investment in subsidiary utilised (4 632)
Net cash flows used in investing activities (379 605) (163 815) (535 538)
Proceeds from issue of ordinary share capital 384 8 359 13 209
Proceeds on disposal of treasury shares 3 078
Minority investment in subsidiary 3 780
Loan from minority shareholders 15 853
Long-term borrowings raised 326 317 224 581 591 700
Payment of capital portion of long-term borrowings (159 516) (102 122) (447 341)
Short-term loan (repaid)/raised (42 009) (20 973) 381 783
Net cash flows from financing activities 128 254 109 845 558 984
Net decrease in cash and cash equivalents (983 916) (288 319) (37 993)
Cash and cash equivalents at beginning of the period 1 669 282 1 975 106 1 975 106
Difference arising on translation 15 814 (216 325) (267 831)
Cash and cash equivalents at end of the period 701 180 1 470 462 1 669 282
* Restated due to a reallocation in relation to IAS 7 Cash Flow Statements.

 

condensed changes in disclosure
for the six months ended 30 June 2010

  Previous   Restated
  30 June   30 June
  (Unaudited)   (Unaudited)
  2009 IAS 7 2009*
  R000 R000 R000
Cash generated from operations 1 014 677 (430 464) 584 213
Net interest paid (72 940)   (72 940)
Net dividends paid (278 224)   (278 224)
Taxation paid (164 864)   (164 864)
  498 649 (430 464) 68 185
Net bank advances to customers and other short-term negotiables (151 510)   (151 510)
Net cash flows from/(utilised in) operating activities before ships sales and purchases 347 139 (430 464) (83 325)
Net proceeds on disposal of ships 430 464 430 464
  Proceeds on disposal of ships 541 957 541 957
  Cash payments on ship options excercised (111 493) (111 493)
Capital expenditure on ships (581 488) (581 488)
Net cash flows from/(utilised in) operating activities 347 139 (581 488) (234 349)
Acquisition of property, terminals, vehicles and equipment and investments (800 816) 581 488 (219 328)
Proceeds from disposal of property, terminals, vehicles and equipment and investments 56 766   56 766
Intangible assets acquired (1 253)   (1 253)
Net cash flows used in investing activities (745 303) 581 488 (163 815)
* Restated due to the requirement of IAS 7 Cash Flow Statements which states that capital expenditure relating to dual purpose assets should be reallocated from investing activities to operating activities.