GPW_AR_2013_Final_v10.pdf

The entity changed its leave policy in 2002 due to the new dispensation.The entity capped all employees’ unused leave from the previous years prior to . une 2000, limiting employees to take such leave during their working life at the entity under speci ½ c conditions. Capped leave is payable, based on the salary notch at the date of termination, which is only applicable if the termination of service is as a result of retirement, ill-health, death and speci ½ c leave conditions.

Accrued leave pay

2013

2012

R ‘000

R ‘000

Opening balance

4,878 (139) 4,739

4,710

Movement

168

4,878

14. PROVISIONS Reconciliation of provisions - 2013

Opening balance Movement

Total

Service bonus

2,672

303

2,975

Reconciliation of provisions - 2012

Opening balance Movement

Total

Service bonus

2,247

425

2,672

The service bonus payable is based on an employees’ monthly salary on date when the bonus is due (month of birth). Bonus payable to employees is only applicable if an employee is still in the service of the entity or else on a pro rata basis in instances of retirement, ill-health and death.

15. CASH GENERATED FROM OPERATIONS

2013

2012

R ‘000

R ‘000

Surplus for the year

109,362

191,782

Adjustments for: Depreciation and amortisation (Pro ½ t) loss on sale of assets Movements in provisions Changes in working capital: Inventories Trade and other receivables Trade and other payables Interest

80,862

75,588

6

2

(2)

-

303

425

(17,411) (244,327) 141,954 68,286 139,033

(17,545)

47,706 12,428 62,670

Deferred income

373,056

55

GPW ANNUAL REPORT 2012 | 2013