MASSMART GROUP ANNUAL FINANCIAL STATEMENTS 2015

GROUP STATEMENT OF CASH FLOWS

For the year ended 27 December 2015

December 2015 December 2014

Rm Notes 52 weeks 52 weeks
CASH FLOWS FROM OPERATING ACTIVITIES

Cash inflow from trading activities 38.1 3,384.4 2,983.4

Working capital movements 38.2 372.0 (295.1)
Cash generated from operations 3,756.4 2,688.3

Interest paid (469.4) (386.8)

Interest received 32.4 41.5
Dividends received 40.3 -
Taxation paid 38.3 (631.0) (683.4)
Dividends paid (958.3) (914.0)

Net cash inflow from operating activities 1,770.4 745.6

CASH FLOWS FROM INVESTING ACTIVITIES

Investment to maintain operations 38.4 (983.7) (857.4)

Investment to expand operations 38.5 (710.7) (1,322.1)
Proceeds on disposal of property, plant and equipment 38.6 38.7 32.5
Proceeds on disposal of non- current assets classified as held for sale 38.7 23.1 -
Investment in subsidiaries and businesses 38.8 (16.9) (14.4)
Other net investing activities 38.9 3.9 14.9

Net cash outflow from investing activities (1,645.6) (2,146.5)

CASH FLOWS FROM FINANCING ACTIVITIES

(Decrease)/ increase in non-current liabilities (314.1) 969.8

Increase in current liabilities 372.3 445.9
Non-controlling interests acquired 38.10 (60.1) (38.6)
Net acquisition of treasury shares (23.6) (27.4)

Net cash (outflow)/inflow from financing activities (25.5) 1,349.7

Net increase/(decrease) in cash and cash equivalents 99.3 (51.2)

Foreign exchange movements (24.2) (53.7)

Cash and cash equivalents at the beginning of the year 1,483.4 1,588.3

Cash and cash equivalents at the end of the year 38.11 1,558.5 1,483.4