31 MARCH 2015ALEXANDER FORBES GROUP HOLDINGS LIMITEDINTEGRATED ANNUAL REPORT

SUMMARY CONSOLIDATED STATEMENT OF CASH FLOWSfor the year ended 31 March 2015

 

2015

2014

Rm

 

 

Cash flows from operating activities

 

 

Cash generated from operations

1 214

1 281

Net finance costs paid

(15)

(2 059)

Movement in working capital

(171)

75

Taxation paid

(524)

(387)

Operating cash flows from continuing operations

504

(1 090)

Operating cash flows relating to insurance and policyholder contracts

274

588

Cash flows from policyholder investment contracts

(2 901)

(5 054)

Cash flows from operating activities – discontinued operations

3

199

Net cash outflow from operating activities

(2 120)

(5 357)

Cash flows from investing activities

 

 

Net proceeds from sale of subsidiaries and associates

(2)

1 236

Net proceeds/(investments) in financial assets

29

(14)

Capital expenditure incurred on property, equipment and computer software

(110)

(208)

Proceeds from sale of property, equipment and computer software

1

6

Cash flows from investing activities – discontinued operations

22

Net cash (outflow)/inflow from investing activities

(82)

1 042

Cash flows from financing activities

 

 

Issue of shares (net of SPV treasury shares)

316

1 903

Redemption of B preference shares

(178)

Purchase of treasury shares

(24)

Net movement in borrowings

(250)

1 640

Repayment of borrowings in terms of debt restructure

(4 095)

Payments made to non-controlling interests

(130)

(126)

Net cash outflow from financing activities

(266)

(678)

Decrease in cash and cash equivalents

(2 468)

(4 993)

Cash and cash equivalents at beginning of year

12 129

16 975

Exchange gain on foreign cash and cash equivalents

13

147

Cash and cash equivalents at end of year

9 674

12 129

Analysed as follows:

 

 

Cash and cash equivalents of disposal groups held for sale

27

24

Cash and cash equivalents of continuing operations

4 350

3 907

Cash held under multi-manager investment and insurance contracts

5 297

8 198

 

9 674

12 129