Sabvest interim results June 2018
Gross income from operations and investemnts more tha doubled to R227.2 million (R83.5 million). Net income for the period attributable to equity shareholders also shot up t R160.0 million (R54.3 million). In addition, headline earnings per share jumped to 352.9 cents per share (119.7 cents per share).
Dividends are determined relative to SabvestÆs own cash flows from investments and services, and capital receipts or special dividends that are not earmarked for new investments.
A special dividend of 100 cents per share was paid in February 2018.
Dividends are considered twice annually. The normal dividend for the six months has been increased by 23% to 32 cents per share.
The groupÆs major unlisted investee companies are budgeting improved profitability in 2018 although trading at SA BiasÆ South African subsidiaries remains weak.
The groupÆs listed investee companies are performing to expectations but it is obviously not possible to project likely listed share prices.
The group continues to focus on its rand hedge characteristics and the majority of its asset base, directly and indirectly continues to be invested in foreign currency assets.
We anticipate a satisfactory year in 2018.