AVBOB Financial Statements 2018

96 AVBOB MUTUAL ASSURANCE SOCIETY AND ITS SUBSIDIARIES SUMMARISED STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2018 SOCIETY GROUP Notes 2018 2017 2018 2017 R 000 R 000 R 000 R 000 Net cash (outflows)/inflows from operating activities ( 920 669) 594 283 ( 836 480) 666 971 Cash generated by operating activities 1 190 346 981 114 1 282 701 1 063 208 Interest received 16 600 17 236 19 848 19 465 Dividends paid - - - ( 30) Dividends received 286 286 222 614 286 286 222 614 Movement in financial assets at fair value through profit or loss Additions 12 (7 188 770) (5 582 664) (7 188 770) (5 582 664) Disposals 12 4 917 331 5 027 720 4 917 331 5 027 720 Tax paid ( 142 462) ( 71 737) ( 153 876) ( 83 342) Net cash outflows from investment activities ( 84 385) ( 189 645) ( 179 356) ( 228 029) Decrease/(increase) in loans to subsidiaries 16 713 ( 4 138) - - Payment of property, plant and equipment 9 ( 19 026) ( 73 534) ( 173 179) ( 212 536) Payment of investment property 9 ( 73 046) ( 73 375) - - Payment of intangible assets 9 ( 9 904) ( 21 376) ( 9 904) ( 21 508) Investment in subsidiaries - ( 19 800) - - Treasury shares issued - - 62 94 Proceeds on disposal of investment property - 256 - - Proceeds on disposal of property, plant and equipment and intangible assets 878 2 322 3 665 5 921 Net cash (outflows)/inflows from financing activities - - ( 1 382) 3 764 (Decrease)/increase in lease liabilities - - ( 1 382) 3 764 (1 005 054) 404 638 (1 017 218) 442 706 2 487 607 2 082 969 2 549 406 2 106 700 #REF! #REF! #REF! #REF! 1 482 553 2 487 607 1 532 188 2 549 406 1 482 553 2 487 607 1 532 188 2 549 406 0 ( 0) Cash and cash equivalents at the beginning of the year year Cash and cash equivalents at the end of the Net (decrease)/increase in cash and cash equivalents 96