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MultiChoice South Africa Holdings Proprietary Limited
Integrated annual report 2018
Basis of preparation
These summarised consolidated financial
statements for the year ended 31 March 2018
have been extracted from the full set of audited
consolidated annual financial statements for
the year ended 31 March 2018, which have
been prepared in accordance with International
Financial Reporting Standards (IFRS) and
Financial Pronouncements as issued by the
Financial Reporting Standards Council and to
also, as a minimum, contain the information
required by IAS 34
Interim Financial Reporting
and in the manner required by the Companies
Act of South Africa. The accounting policies
applied in the preparation of the consolidated
financial statements from which the summary
consolidated financial statements were
derived, are in terms of International Financial
Reporting Standards and are consistent with
those accounting policies applied in the
preparation of the previous consolidated
annual financial statements.
The group has adopted all new and amended
accounting pronouncements as issued by
the International Accounting Standards Board
(IASB), which were effective for financial years
commencing on 1 April 2017.
Summarised consolidated statements of
cash flows
for the year ended 31 March
Group
Company
2018
R’000
2017
R’000
2018
R’000
2017
R’000
Cash flow from operating
activities
7 460 827
9 054 026
–
–
Cash flow utilised in investing
activities
(390 481)
(715 352)
–
–
Cash flow utilised in financing
activities
(7 325 201)
(7 695 209)
–
–
Changes in cash and cash
equivalents for the year
(254 855)
643 465
–
–
Cash and cash equivalents at
the beginning of the period
2 600 694
2 285 960
–
–
Foreign exchange translation
adjustments
(73 966)
(245 072)
–
–
Reclassification of cash to held
for sale
747
(83 659)
–
–
Cash and cash equivalents at
the end of the year
2 272 620
2 600 694
–
–
The principle non-cash transactions are the acquisition of equipment using finance leases,
equity-settled share-based payment transactions and impairment of assets.
Financial review
(continued)