CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

for the six months ended 31 December 2017

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R millions  Reviewed 
6 months to 
31 December 
2017 		    Reviewed6
6 months to 
31 December 
2016 		 Audited  
Annual  
30 June  
2017  		   
Cash generated by operations  400     279  1 055    
Interest received  31     52  88    
Interest paid  (50)    (79) (138)   
Taxation paid  (106)    (111) (210)   
Operating cash flow  275     141  795    
Dividends paid to owners of Murray & Roberts Holdings Limited  (194)    (187) (194)   
Net cash inflow/(outflow) from operating activities  81     (46) 601    
Dividends received from associate companies  –     9  19    
Investment in joint venture held for sale  –     (1) (2)   
Purchase of intangible assets other than goodwill  (6)    (11) (24)   
Purchase of property, plant and equipment by entities classified as held for sale  (1)    –  (53)   
Purchase of property, plant and equipment  (82)    (168) (264)   
– Replacements  (27)    (136) (116)   
– Expansions  (151)    (235) (395)   
– Capitalised finance leases raised (non-cash) 96     203  247    
Proceeds on disposal of property, plant and equipment  76     23  45    
Net outflow on disposal of business  –     –  (323)   
Proceeds on disposal of intangible assets other than goodwill  –     14  7    
Proceeds on disposal of assets held for sale  –     8  37    
Cash related to assets held for sale  (26)    (303) 259    
Proceeds from realisation of investment  106     122  170    
Purchase of additional investment in Bombela Concession Company  (357)    –  –    
Other (net) (2)    (1) 2    
Net cash outflow from investing activities  (292)    (308) (127)   
Net movement in borrowings  (163)    30  (661)   
Net acquisition of treasury shares  (37)    (64) (41)   
Net cash outflow from financing activities  (200)    (34) (702)   
Total decrease in net cash and cash equivalents  (411)    (388) (228)   
Net cash and cash equivalents at beginning of period  2 253     2 737  2 737    
Effect of foreign exchange rates  (101)    (245) (256)   
Net cash and cash equivalents at end of period  1 741     2 104  2 253    
Net cash and cash equivalents comprises:             
Cash and cash equivalents  2 264     2 168  2 371    
Bank overdrafts  (523)    (64) (118)   
Net cash and cash equivalents at end of period  1 741     2 104  2 253    
6 In the 2017 financial half year results, the non-cash element of capitalised finance leases was in error included under investing cash flows as purchase of property, plant and equipment (R203 million). Therefore the 2017 financial half year cash flow has been restated with the resulting impact being that the cash inflow from financing activities decreased by R203 million and the cash outflow from investing activities decreased by R203 million.