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Results for the year ended 31 March 2024
Ninety One plc Ninety One Limited
Incorporated in England and Wales Incorporated in the Republic of South Africa
Registration number 12245293 Registration number 2019/526481/06
Date of registration: 4 October 2019 Date of registration: 18 October 2019
LSE share code: N91 JSE share code: NY1
JSE share code: N91 ISIN: ZAE000282356
ISIN: GB00BJHPLV88
Results for the year ended 31 March 2024
5 June 2024
Highlights
- Solid financial performance, with adjusted operating profit margin of 32.0%.
- Basic earnings per share increased by 1% to 18.4 pence and adjusted earnings per share decreased by 8% to 15.9
pence.
- Business conditions remain challenging.
- Assets under management decreased by 3% to £126.0 billion.
- Net outflows of £9.4 billion.
- Proposed final dividend of 6.4 pence per share, resulting in a full year dividend of 12.3 pence per share.
- Staff shareholding increased to 30.6%.
Change
Key financials 2024 2023 %
Assets under management (£'bn) 126.0 129.3 (3)
Net flows (£'bn) (9.4) (10.6) 11
Average assets under management (£'bn) 123.9 134.9 (8)
Profit before tax (£'m) 216.8 212.6 2
Adjusted operating profit (£'m) 190.5 206.9 (8)
Adjusted operating profit margin (%) 32.0 32.7 n.m.
Basic earnings per share (p) 18.4 18.2 1
Basic headline earnings per share (p) 18.4 18.2 1
Adjusted earnings per share (p) 15.9 17.3 (8)
Dividend per share (p) 12.3 13.2 (7)
Hendrik du Toit, Founder and Chief Executive Officer, commented:
"Ninety One, and many other public-markets-centric active investment managers, faced headwinds over the reporting
period. Despite these conditions, we delivered robust financial results. Looking ahead, we remain confident of the underlying
strength of our business and the long-term relevance and quality of our proposition to clients. Our people are united and
motivated to provide our clients with excellent service and competitive investment outcomes. The combination of focus on
carefully chosen investment capabilities, distribution reach into large markets and our relentless quest to improve execution
will realise the growth potential of Ninety One. Despite short-term challenges, our attention is firmly fixed on the compelling
long-term opportunity".
Shareholder information
In line with our stated dividend policy the Board has recommended a final dividend of 6.4 pence per share.
In terms of the DLC structure, Ninety One plc shareholders registered on the United Kingdom share register may receive all
or part of their dividend entitlements through dividends declared and paid by Ninety One plc on their ordinary shares and/or
through dividends declared and paid on the SA DAN share issued by Ninety One Limited.
Ninety One plc shareholders registered on the South African branch register may receive all or part of their dividend
entitlements through dividends declared and paid by Ninety One plc on their ordinary shares and/or through dividends
declared and paid on the SA DAS share issued by Ninety One Limited.
Ninety One plc dividend announcement
Notice is hereby given that a gross final dividend of 6.4 pence per ordinary share has been recommended by the Board from
income reserves in respect of the financial year ended 31 March 2024. The final dividend will be paid on 8 August 2024 to
shareholders recorded in the shareholders' registers of the company on close of business 19 July 2024.
Ninety One plc shareholders registered on the United Kingdom share register, will receive their dividend payment by Ninety
One plc of 6.4 pence per ordinary share.
Ninety One plc shareholders registered on the South African branch register, will receive their dividend payment by Ninety
One Limited, on the SA DAS share, equivalent to 6.4 pence per ordinary share.
The relevant dates for the payment of the dividend are as follows:
Last day to trade cum-dividend
On the Johannesburg Stock Exchange ("JSE") Tuesday, 16 July 2024
On the London Stock Exchange ("LSE") Wednesday, 17 July 2024
Shares commence trading ex-dividend
On the JSE Wednesday, 17 July 2024
On the LSE Thursday, 18 July 2024
Record date (on the JSE and LSE) Friday, 19 July 2024
Payment date (on the JSE and LSE) Thursday, 8 August 2024
Share certificates on the South African branch register may not be dematerialised or rematerialised between Wednesday, 17
July 2024 and Friday, 19 July 2024, both dates inclusive, nor may transfers between the United Kingdom share register and
the South African branch register take place between Wednesday, 17 July 2024 and Friday, 19 July 2024, both dates inclusive.
Additional information for Ninety One shareholders registered on the South African branch register
• The final dividend paid by Ninety One plc to shareholders registered on the South African branch register is a local
payment derived from funds sourced in South Africa.
• Shareholders registered on the South African branch register are advised that the distribution of 6.40000 pence,
equivalent to a gross dividend of 153.09504 cents per share (rounded to 153.00000 cents per share), has been arrived
at using the rand/pound Sterling average buy/sell spot rate of ZAR23.9211/GBP, as determined at 11:00 (SA time) on
Tuesday, 4 June 2024. Consequently, tax will be calculated on the gross dividend of 153.00000 cents per share.
• Ninety One plc United Kingdom tax reference number: 623 59652 16053.
• The issued ordinary share capital of Ninety One plc is 622,624,622 ordinary shares.
• The dividend paid by Ninety One plc to South African resident shareholders registered on the South African branch
register and the dividend paid by Ninety One Limited to Ninety One plc shareholders on the SA DAS share are subject to
South African Dividend Tax ("Dividend Tax") of 20% (subject to any available exemptions as legislated).
• Shareholders registered on the South African branch register who are exempt from paying the Dividend Tax will receive
a net dividend of 153.00000 cents per share, paid by Ninety One Limited on the SA DAS share.
• Shareholders registered on the South African branch register who are not exempt from paying the Dividend Tax will
receive a net dividend of 122.40000 cents per share (gross dividend of 153.00000 cents per share less Dividend Tax of
30.60000 cents per share) paid by Ninety One Limited on the SA DAS share.
Ninety One Limited dividend announcement
Notice is hereby given that a gross final dividend of 153.00000 cents per ordinary share has been recommended by the
Board from income reserves in respect of the financial year ended 31 March 2024. The final dividend will be paid on 8 August
2024 to shareholders recorded in the shareholders' register of the company on close of business 19 July 2024.
The relevant dates for the payment of the dividend are as follows:
Last day to trade cum-dividend Tuesday, 16 July 2024
Shares commence trading ex-dividend Wednesday, 17 July 2024
Record date Friday, 19 July 2024
Payment date Thursday, 8 August 2024
The final gross dividend of 153.09504 cents per ordinary share (rounded to 153.00000 cents per ordinary share) has been
determined by converting the Ninety One plc distribution of 6.40000 pence per ordinary share into rands using the
rand/pound sterling average buy/sell spot rate of ZAR23.9211/GBP, as determined at 11:00 (SA time) on Tuesday, 4 June
2024. Consequently, tax will be calculated on the gross dividend of 153.00000 cents per share.
Share certificates may not be dematerialised or rematerialised between Wednesday, 17 July 2024 and Friday, 19 July 2024,
both dates inclusive.
Additional information to take note of:
• The final dividend paid by Ninety One Limited to shareholders registered on the South African register is a local payment
derived from funds sourced in South Africa.
• Ninety One Limited South African tax reference number: 9661 9311 71.
• The issued ordinary share capital of Ninety One Limited is 284,754,801 ordinary shares.
• The dividend paid by Ninety One Limited is subject to South African Dividend Tax ("Dividend Tax") of 20% (subject to any
available exemptions as legislated).
• Shareholders who are exempt from paying the Dividend Tax will receive a net dividend of 153.00000 cents per ordinary
share.
• Shareholders who are not exempt from paying the Dividend Tax will receive a net dividend of 122.40000 cents per
ordinary share (gross dividend of 153.00000 cents per ordinary share less Dividend Tax of 30.60000 cents per ordinary
share).
For further information please contact:
Investor relations
Varuni Dharma varuni.dharma@ninetyone.com +44(0) 203 938 2486
Media enquiries
Jeannie Dumas (for UK & International) jeannie.dumas@ninetyone.com +44 (0) 203 938 3084
Kotie Basson (for South Africa) kotie.basson@ninetyone.com +27 (0) 82 375 1317
Investor presentation
A presentation to investors and financial analysts will be held at our London office (55 Gresham Street, EC2V 7EL) at 9.00am
BST on 5 June 2024. There will be a live webcast available for those unable to attend. The webcast registration link is available
https://ninetyone.com/full-year-results.
A copy of the presentation will be made available on the Company's website https://ninetyone.com/full-year-results-2024
at 8.00 am BST.
About Ninety One
Ninety One is an active investment manager, investing capital on behalf of its clients to help them achieve their long-term
financial objectives.
Ninety One is listed on the London and Johannesburg Stock Exchanges.
About this announcement
This short form announcement is the responsibility of the directors and represents only a summary of the information
contained in the annual financial statements, forming part of the Ninety One Integrated Annual Report for the year ended 31
March 2024 (collectively, the 2024 Integrated Annual Report). Any investment decisions made by investors and/or
shareholders should be based on consideration of the 2024 Integrated Annual Report.
This short-form announcement is extracted from audited financial information but is not itself audited. The annual financial
statements have been audited by PricewaterhouseCoopers, who expressed an unmodified audit opinion.
The 2024 Integrated Annual Report is available on the JSE cloudlink at:
https://senspdf.jse.co.za/documents/2024/JSE/ISSE/N91E/FY2024AFS.pdf and on the company's website at:
https://ninetyone.com/full-year-results-2024. Copies of the 2024 Integrated Annual Report may be requested by
contacting Investor Relations at IR@ninetyone.com.
Furthermore, the Company has published the following documents which can also be viewed on the Company's website
https://ninetyone.com/full-year-results-2024 and will be available at the National Storage Mechanism:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
• Ninety One Limited Annual Financial Statements 2024
• Ninety One plc and Ninety One Limited Notice of the 2024 Annual General Meeting
• Ninety One Limited Form of Proxy for the 2024 Annual General Meeting
The Notices of Annual General Meetings will be posted to shareholders on or about the 24 June 2024 and the necessary
announcement, including the relevant JSE timetable, will be published on the same day.
Forward-looking statements
This announcement does not constitute or form part of any offer, advice, recommendation, invitation or inducement to any
person to underwrite, subscribe for or otherwise acquire or dispose of securities in Ninety One plc and its subsidiaries or
Ninety One Limited and its subsidiaries (together, "Ninety One"), nor should it be construed as legal, tax, financial, investment
or accounting advice.
This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-
looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates",
"plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations
or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-
looking statements may and often do differ materially from actual results. Any forward-looking statements contained in the
announcement reflect Ninety One's current view with respect to future events and are subject to risks relating to future
events and other risks, uncertainties and assumptions relating to the Ninety One's business, results of operations, financial
position, liquidity, prospects, growth and strategies. Forward-looking statements speak only as of the date of this
announcement.
Except as required by any applicable law or regulation, Ninety One expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking statements contained in this announcement or any other
forward-looking statements it may make whether as a result of new information, future developments or otherwise.
JSE Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
Date: 05-06-2024 08:00:00
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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