Italtile Limited Annual report 2011

COMPANY				GROUP
2011 Rm's	2010 Rm's		Note	2011 Rm's	2010 Rm's

		Cash flows from operating activities
		Cash receipts from customers		1 508	1 358
		Cash paid to suppliers and employees		(1 042)	(936)
(1)	-	Cash generated by operations	27	466	422
7	48	Finance revenue	7	37	42
-	546	Dividends received from subsidiary
(10)	(12)	Taxation paid	28	(116)	(151)
		Finance cost	8	(24)	(27)
5	3	Management fees received
(114)	(646)	Dividends paid	29	(109)	(569)
(113)	(61)	Net cash flows from/(utilised by) operating activities		254	(283)
		Cash flows from investing activities
		Additions to property, plant and equipment	13	(135)	(92)
		Proceeds on disposal of plant and equipment		44	14
(1)	(3)	Increase in investments		(10)	(2)
		Lease premiums paid	15	(6)	(9)
		Net acquisition and disposal of interest in subsidiary, including transactions with non-controlling interests	30	-	17
3	19	Repayments of portion of BEE share trust loan	15
2	16	Net cash flows (utilised by)/from investing activities		(107)	(72)
		Cash flows from financing activities
-	401	Share issue in lieu of dividend		-	401
		(Decrease)/increase in interest-bearing loans and borrowings		(11)	1
		Purchase of treasury shares		(8)	(3)
112	(357)	Increase in amounts owing by subsidiaries
112	44	Net cash flows (utilised by)/ from financing activities		(19)	399
1	(1)	Movement in cash and cash equivalents for the year		128	44
-	1	Cash and cash equivalents at beginning of year		711	667
1	-^#	Cash and cash equivalents at end of year	20	839	711
		#Less than R1 million.