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NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 30 June 2016
Hyprop Investments Limited
Group annual financial statements 2016
140
29.
Notes to the statements of cash flows
The following convention applies to figures other than adjustments:
Outflows of cash are represented by figures in brackets. Inflows of cash are represented by figures without brackets.
GROUP
June 2016
R000
GROUP
June 2015
R000
29.1
Cash generated from operations
Net income before taxation
2 802 971
3 798 599
Adjustments:
(1 032 975)
(2 081 065)
Change in fair value: Investment property
(1 380 638)
(2 467 113)
Change in fair value: Derivatives
59 904
(19 556)
Investment in subsidiary (African Land)
10 102
Profit on disposal: Investment property
(24 243)
Loss on disposal: Investment in subsidiary
30 011
Goodwill
4 280
Share of income from associate
(457)
(652)
Share of loss from joint venture
41 007
17 447
Unrealised foreign exchange gain
(177 869)
Depreciation
24 738
20 054
Share-based payment expense
9 919
6 707
Interest received
(323 759)
(157 344)
Interest paid
689 935
508 991
Non-controlling interest’s share of current year profits
13 628
Loss on write-off of assets
82
Other non-cash items
515
271
Operating profit before working capital changes
1 769 996
1 717 534
(Increase)/decrease in working capital
(60 229)
21 230
(Increase)/decrease in receivables
(69 288)
19 620
Decrease/(increase) in working capital included in held-for-sale
6 301
(14 740)
Increase in payables
2 758
16 350
Cash generated from operations
1 709 767
1 738 764
29.2 Taxation paid
Taxation payable at beginning of year
(10 132)
(298)
Per statements of profit or loss and other comprehensive income
(7 371)
(12 386)
Taxation payable at end of year
2 037
10 132
(15 466)
(2 552)