Integrated Reports Senwesbel Consolidated Financial Statements 2018 - Page 62

24. RECONCILIATION OF PROFIT BEFORE TAX TO CASH FROM OPERATING ACTIVITIES GROUP 2018 R’m COMPANY 2018 R’m 2017 R’m 2017 R’m Profit before tax 418 224 51 33 Non-cash adjustments to reconcile profit before tax to net cash flows: 391 230 ( 55) ( 36) Foreign exchange profit Depreciation (Increase)/decrease in provisions Finance costs 1 1 - - 42 41 - - 87 (25) - - 225 206 2 2 Impairment/(reversal of impairment) of investments and loans 8 11 - - Profit/(loss) from joint ventures and associate 5 (19) - - Profit on disposal of property, plant and equipment (1) (1) - - Impairment of property, plant and equipment (1) 6 - - Profit with sale of available-for-sale financial assets - - (7) - Other operating income: dividends received - - (50) (38) Impairment on silo’s Equity-settled share-based payment expense Cash from operating activities 8 - - - 17 10 - - 809 454 ( 4) ( 3) 25. CHANGES IN OPERATING CAPITAL GROUP 2018 R’m 2017 R’m Increase in inventory (376) (123) Increase in trade and other receivables (319) (523) (Increase)/decrease in inventory held to satisfy firm sales (67) 175 Increase in trade and other payables 222 69 Decrease in interest-bearing current loans 412 435 (128) 33 Changes in operating capital 26. TAX PAID GROUP Tax payable at the beginning of the year Deferred tax asset at the beginning of the year Amounts debited in profit and loss Deferred tax asset/(liability) at the end of the year Tax payable at the end of the year Tax paid COMPANY 2018* R’m 2017 R’m 2018* R’m 2017 R’m - (2) - - 10 24 - - (123) (62) 2 - 19 (10) (2) - 8 - - - (86) (50) - - *Including tax relating to assets and liabilities held-for-sale and discontinued operations. 61 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2018 Senwesbel Limited Reg no: 1996/017629/06