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Adjustments to the cash flow statement for the interim period ended 31 August 2022
Delta Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/005129/06)
JSE Share code: DLT ISIN: ZAE000194049
(Approved as a REIT by the JSE)
("Delta" or "the Company" or "the Group")
Adjustments to the consolidated cash flow statement for the interim period ended 31 August 2022
Further to the release of Delta’s unaudited condensed consolidated interim results for the period ended 31 August 2022
(“Interim Results”) on 7 November 2022, shareholders are advised of various adjustments within the consolidated cash
flow statement (“Adjustments”).
The Adjustments related to the correction of the error resulting from the use of the incorrect version of the interim
results when performing the calculations required for the consolidated cash flow statement, which was not identified
timeously prior to the release of the Interim Results.
As a result of the Adjustments, the consolidated cash flow statement and note 6 to the consolidated cash flow
statement have been amended as follows:
CONSOLIDATED STATEMENT OF CASH FLOW Adjusted Previously
for the period ended 31 August 2022 published
Unaudited Unaudited for Variance
for the period the period
ended 31 ended 31
August 2022 August 2022
GROUP Notes R'000 R'000 R'000
Cash flows from operating activities
Cash generated from operations 1 379 127 405 881 (26 754)
Interest received 5 380 5 380 -
Finance costs (205 955) (264 084) 58 129
Taxation (paid) (53 271) (53 271) -
Net cash inflow from operating activities 125 281 93 906 31 375
Cash flows from investing activities
Capital expenditure on investment property (32 812) (44 321) 11 509
Proceeds on disposal of Investment Property 72 294 72 294 -
Net cash inflow from investing activities 39 482 27 973 11 509
Cash flows from Financing activities
Repayment of lease liabilities (2 719) (2 719) -
Repayment of interest-bearing borrowings (168 960) (124 440) (44 520)
Advance of interest-bearing borrowings 1 636 - 1 636
Net outflow from financing activities (170 043) (127 159) (42 884)
Net movement in cash and cash equivalents (5 279) (5 279) -
Cash at the beginning of the year 49 49 -
Total cash at the end of the year (5 230) (5 230) -
Note 6
GROUP -
Cash generated from operations
Profit/(Loss) before taxation (254 844) (254 844) -
Adjustments: -
Depreciation of property, plant and equipment 325 325 -
Unrealised gain on foreign exchange differences (7 415) (7 415) -
Interest income (5 380) (5 380) -
Finance costs 207 767 207 767 -
Fair value adjustments 368 145 368 145 -
ECL allowance - financial guarantee (1 098) (1 098) -
ECL allowance - Impairment of loans 11 875 11 875 -
Straight-line rental income accrual 11 958 11 958 -
Amortisation of letting commission 722 722 -
Operating profit before working capital changes 332 055 332 055 -
Changes in working capital: 47 072 73 826 (26 754)
Decrease/(increase) in trade and other receivables 32 362 43 993 (11 631)
(Decrease)/increase in trade and other payables 14 710 29 833 (15 123)
Cash generated from operations 379 127 405 881 (26 754)
The Adjustments did not result in any changes to the consolidated statement of financial position, nor the consolidated
statement of comprehensive income and the remainder of the Interim Results are unaffected.
09 December 2022
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 09-12-2022 01:32:00
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