Notes to the financial statements | Note 3.6

3. Performance
3.6 Reconciliation of profit/(loss) before tax to cash generated from operations
 
   Group  Company 
    31 March 
2024 
Rm 		 Restated1
 31 March 
2023 
Rm 		  31 March 
2024 
Rm 		 Restated1
31 March 
2023 
Rm 
Cash generated from operations2   10 235  6 705  5 282  4 510 
Profit/(loss) before tax  2 537  (13 501) 3 611  (11 783)
Finance charges and fair value movements  2 197  1 484  2 002  1 546 
Investment income  (253) (156) (4 381) (1 064)
Interest received from trade receivables and subsidiaries  (203) (137) (162) (106)
Non-cash items   7 347  22 320  3 874  17 554 
Depreciation, amortisation, impairment and write-offs  5 561  20 653  3 124  11 463 
Increase in impairment of trade receivables, contract assets and loans3  1 683  1 255  1 451  1 145 
(Decrease)/increase in provisions  (846) 441  (394) (77)
Impairment of investment in subsidiaries  –  –  28  4 655 
Insurance revenue  (281) (203) (281) (203)
Insurance service expenses  184  209  184  209 
Reversal of FutureMakers impairment  –  (10) –  – 
Gain on termination of leases  (35) (12) (13) (14)
Profit from disposal of property, plant and equipment and intangible assets  (81) (64) (61) (48)
Gain on sale of contract assets  (123) (198) (123) (198)
Foreign exchange movements  148  243  87  256 
Share-based payment expenses  121  174  36  80 
Movement in deferred revenue  1 016  (168) (164) 286 
Movement in working capital   (1 390) (3 305) 338  (1 637)
Movement in inventories  244  (64) (26) 109 
(Increase)/decrease in trade receivables, contract assets, finance lease receivables and             
other receivables  (948) (3 001) 720  (5 037)
(Decrease)/increase in trade and other payables and prepayments  (686) (240) (356) 3 291 
1 Restated for IFRS 17 adoption. Refer to note 2.7 for details.
2 This includes Swiftnet’s cash generated from operations of R14 million (31 March 2023: R376 million). In the current year, Swiftnet has been disclosed as a non-current asset held for sale. Refer to note 12.2.
3 In the prior year, this line was split between two line items: increase/(decrease) in expected credit loss provision and bad debt written off. In the current year, these lines have been aggregated into one line to align with the statement of profit or loss and other comprehensive income. The comparatives have been restated.