Silverbridge fianl results June 2018
Revenue for the year increased to R94.9 million (2017: R93.1 billion) and results from operating activities lowered to R8.2 million (2017: R12.9 million). Profit and total comprehensive income for the year dropped to R5.9 million (2017: R13.1 million). Furthermore, headline earnings per share declined to 20.33 cents per shre (2017: 41.51 cents per share).
The directors have declared and approved a final gross dividend of 4.5 cents per share for the year ended 30 June 2018 from income reserves.
We remain positive about the future despite a challenging period. Although economic conditions are suppressed, we have seen an increase in optimism in our market. We continue to build our core annuity streams which will drive improved revenue growth for the group.
We are pleased with the contribution that new initiatives are starting to make to the group, albeit slower than expected. We are excited about our product development and we remain optimistic that our efforts will help enable sustained growth.
The financial services industry continues to face significant challenges and increased competition to meet its customersĂ changing needs in an increasingly digital world. This results in many of our existing and potential clients searching for solutions to enable them to adapt quickly and more effectively. SilverBridge remains well positioned to meet these needs. It presents us with opportunities to create platforms that can help the industry to adapt and continues guiding our product development initiatives.
Notice of the annual general meeting
Notice is hereby given that the AGM of the Company will be held at 11:30 on Wednesday 28 November 2018 at the registered office of SilverBridge, Castle Walk Corporate Park, Corner of Swakop & Nossob Street, Erasmuskloof, Pretoria, to transact the business as stated in the notice of the AGM, which is contained in the integrated annual report to be distributed on or about 11 September 2018.
The board of directors of SilverBridge (˘the Board÷) has determined that, in terms of section 62(3)(a), as read with section 59 of the Companies Act, 2008 (Act 71 of 2008), the record date for the purposes of determining which shareholders of the Company are entitled to participate in and vote at the Annual General Meeting is Friday, 23 November 2018. Accordingly, the last day to trade in SilverBridge shares in order to be recorded in the Register to be entitled to vote at the AGM will be Tuesday, 20 November 2018.