FINANCIAL REPORT
Our portfolio continued to deliver a
resilient set of results despite the impact of a
subdued macroeconomic environment, underpinned
by our strong capital allocation strategy.
| R million | 30 June 2021 |
30 June 2020 |
| Cash flows – operating activities | ||
| Cash generated from operations | 7 017 | 4 340 |
| Interest received | 446 | 777 |
| Taxation paid | (1 628) | (772) |
| Dividends received | 1 293 | 2 984 |
| Finance costs | (1 676) | (1 592) |
| Cash available from operating activities | 5 452 | 5 737 |
| Proceeds from retirement fund assets transferred to Distell | 405 | – |
| Dividends paid | (506) | (3 883) |
| Cash inflow from operating activities | 5 351 | 1 854 |
| Cash flows – investing activities | ||
| Investment in property, plant and equipment and other assets | (2 048) | (2 467) |
| Proceeds on disposal of property, plant and equipment and intangible assets | 242 | 131 |
| Proceeds on disposal of assets held for sale | 510 | 10 |
| Businesses acquired | (64) | 110 |
| Proceeds on disposal of investments and loans(1) | 2 542 | 925 |
| Additions to investments and loans(2) | (2 317) | (417) |
| Investment in money market funds | (800) | (2 275) |
| Withdrawal of money market funds | 735 | 2 505 |
| Cash outflow from investing activities | (1 200) | (1 478) |
| Cash flows – financing activities | ||
| Loans repaid(3) | (7 579) | (11) |
| Lease payments | (454) | (406) |
| Other movements | 156 | 166 |
| Cash outflow from financing activities | (7 877) | (251) |
| Net increase/(decrease) in cash and cash equivalents | (3 726) | 125 |
| Exchange rate profit/(loss) on foreign cash | (892) | 1 549 |
| Cash and cash equivalents at the beginning of the year | 13 219 | 11 545 |
| Cash and cash equivalents at the end of the year | 8 601 | 13 219 |
| Cash and cash equivalents – per statement of financial position | 8 763 | 15 631 |
| Bank overdraft | (162) | (2 412) |
| (1) | The year under review includes the proceeds on the disposal of 40 000 000 FirstRand shares amounting to R2 040 million. |
| (2) | The year under review includes an investment in CIVH amounting to R1 636 million. |
| (3) | Remgro redeemed its exchangeable bonds for £350 million cash on 22 March 2021. |
The 2021 Annual General Meeting of Remgro will be held by way of electronic participation only (refer to the Notice to Shareholders regarding the electronic participation process).