Cash Flow Statements
for the year ended 30 June 2006

Group Company       2006 2005 2006 2005   Notes R’000 R’000 R’000 R’000   OPERATING ACTIVITIES           Cash receipts from customers   2 398 849 1 927 328 103 6 377 Cash paid to suppliers and employees   (1 918 476) (1 537 478) (6 851) (6 600)   Cash generated from/(utilised in) operations 28 480 373 389 850 (6 748) (223) Investment income   12 861 7 808 21 688 10 059 Finance costs   (56 283) (38 653) (19 876) (5 892) Dividends (paid to minorities)/received   (94) – 943 – Tax paid 29 (73 765) (69 365) (295) (1 605)   Net cash inflow/(outflow) from operating activities   363 092 289 640 (4 288) 2 339   INVESTING ACTIVITIES           Disposal of subsidiaries and businesses 30 603 – – – Acquisition of subsidiaries and investments 30 (133 169) (204 070) – – Minority interests acquired   (9 595) (191 568) (7 305) (8 000) Repayments of loans advanced and investments in associates   9 822 – – – Proceeds on disposal of other investments   20 876 3 215 13 689 800 Acquisition of other investments   (1 350) (3 470) – (4 714) Loans repaid to minorities   (5 813) (2 288) – – Additions to software   (13 535) (4 108) – – Additions to property, plant and equipment – to           maintain operations   (49 017) (61 939) – – Additions to property, plant and equipment – to           expand operations   (26 183) (24 448) – – Proceeds on disposal of property, plant and equipment   17 960 3 891 – –   Net cash (outflow)/inflow from investing activities   (189 401) (484 785) 6 384 (11 914)   FINANCING ACTIVITIES           Distribution to shareholders   (166 878) (103 289) (172 379) (105 851) (Decrease)/increase in inter-group loans   – – (18 366) 53 389 Net proceeds from issue of shares   138 762 29 060 138 762 29 060 Share acquisitions by The Primedia Trust   (123 045) (50 855) – – Shares disposed by The Primedia Trust   17 321 21 749 – – Decrease in amounts owed to vendors   (3 440) – – – Short-term borrowings (repaid)/raised   (668) 1 272 – – Long-term borrowings raised   2 076 269 738 – – Long-term borrowings repaid     (97 834) (46 002) – –   Net cash (outflow)/inflow from financing activities   (233 706) 121 673 (51 983) (23 402)   Net decrease in cash and cash equivalents   (60 015) (73 472) (49 887) (32 977) Exchange rate adjustments   2 390 1 064 – – Cash and cash equivalents at beginning of year   (6 411) 65 997 (103 550) (70 573)   Cash and cash equivalents at end of year   (64 036) (6 411) (153 437) (103 550)   Bank balances and cash     60 740 4 368 – – Bank overdrafts     (124 776) (10 779) (153 437) (103 550)         (64 036) (6 411) (153 437) (103 550)   back to top