Integrated Reports Senwes Financial Review 2018 - Page 55

FINANCIAL REVIEW 24. RECONCILIATION OF PROFIT BEFORE TAX TO CASH FROM OPERATING ACTIVITIES 23.7 Directors’ direct and indirect interests in the company 2018 Name 2017 Direct Direct GROUP Shares % Shares % 142 386 0,08% 142 386 0,08% 32 382 0,01% 32 382 0,01% NON-EXECUTIVE AJ Kruger & Related parties: AJ Kruger Kingston Boerdery BK TF van Rooyen & Related parties: TF van Rooyen Doc-Zonie Trust IM Boerdery (Pty) Ltd WH van Zyl & Related parties: WH van Zyl Thuso Graan (Pty) Ltd 132 386 10 000 0,07% 0,01% 4 335 6 978 0,00% 0,00% 21 069 38 384 4 335 6 978 0,01% 21 069 0,02% 0,00% 33 829 4 555 0,02% 33 829 4 555 132 386 10 000 38 384 0,07% 0,01% 0,00% 0,00% 0,01% 0,02% 0,02% 0,00% EXECUTIVE F Strydom ** CF Kruger *** Subtotal of directors Other shareholders * TOTAL 112 202 0,06% 325 354 180 463 954 0,17% 99,83% - 180 789 308 - 100,00% - 174 655 387 807 180 401 501 180 789 308 55 - 0,10% 0,21% 99,79% 100,00% * Other shareholders include indirect shareholding of directors ** Shares held in Senwes does not include the 2 632 247 shares granted in terms of the LTI scheme which have not yet vested. 112 202 shares already vested in terms of the LTI scheme, during the year. *** Shares held in Senwes does not include 1 691 193 shares granted in terms of the LTI scheme which have not yet vested. 74 801 shares already vested in terms of the LTI scheme, during the year and sub- sequently sold before yearend. Profit before tax from continuing operations Profit before tax Non-cash adjustments to reconcile profit before tax to net cash flows: Foreign exchange loss Depreciation (Decrease)/increase in provisions Finance costs (Reversal of impairment)/impairment on investments and loans Loss/(profit) from joint ventures and associate Profit on disposal of property, plant and equipment (Reversal of impairment)/impairment of property, plant and equipment Other operating income: dividends received Equity-settled share-based payment expense Cash from operating activities COMPANY 2018 R’m 2017 R’m 2018 R’m 2017 R’m 432 229 229 359 267 432 359 267 381 228 424 241 1 41 1 42 (25) 87 223 204 1 40 99 1 39 (24) 224 206 8 5 11 (19) (1) (1) (1) 6 (1) (1) (1) 6 - 17 - 10 (4) 12 (5) 10 457 813 9 - 54 - 783 508 25. CHANGES IN OPERATING CAPITAL GROUP COMPANY 2017 R’m 2018 R’m 2017 R’m (Increase)/decrease in inventory (376) (123) (240) (157) Increase in trade and other receivables (319) (523) (338) (503) (Increase)/decrease in inventory held to satisfy firm sales (67) 175 (77) 43 Increase/(decrease) in trade and other payables 222 69 (85) 249 Increase in interest-bearing current loans 412 435 412 434 (128) 33 (328) 66 Changes in operating capital FINANCIAL REVIEW 2018 R’m