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BAT - Brait SE - Audited final results for the year ended 31 March 2012 and

Release Date: 06/06/2012 07:05
Code(s): BAT
 
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BAT - Brait SE - Audited final results for the year ended 31 March 2012 and declaration of dividend Brait SE (Registered in Malta as a European Company) (Registration No. SE1) Share code: BAT & ISIN: LU0011857645 ("Brait", the "Company" or "Group") AUDITED FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2012 AND DECLARATION OF DIVIDEND HIGHLIGHTS FINANCIAL HIGHLIGHTS - Net Asset Value ("NAV") per share up 25% to ZAR20.59 on ZAR16.50 Rights Offer Price (61% increase for the year) - Proposed bonus share dividend (with cash alternative of 20.59 ZAR cents per share) - Normalised headline earnings per share up 189% to ZAR4.33 (2011: ZAR1.50) - Headline earnings per share up 249% to ZAR5.45 (2011: ZAR1.56) - Operating expenses of ZAR117 million are 60% down from prior year (2011: ZAR290 million) - Cash and cash equivalent ratio to NAV ratio at 5% OPERATIONAL AND STRATEGIC HIGHLIGHTS - Successful transition from traditional private equity fund manager to investment holding company - Completion of the ZAR8.6 billion capital raise (ZAR6.4 billion equity and ZAR2.2 billion debt) - ZAR6.4 billion invested on the acquisition of significant stakes in Pepkor, Premier Foods and Iceland Foods Abridged Group Statement of Comprehensive Income for the year ended Audited Audited Notes Audited Audited 31 31 31 31 March March March March 2011 2012 2012 2011 R`m R`m EUR`m EUR`m 276 2 568 Investment gains 2 251 28 274 257 Other investment income 25 28 (290) (117) Operating expenses 3 (11) (30) (49) (62) Finance costs 4 (6) (4) (36) (39) Taxation 5 (4) (4) Profit for the year/ 255 18 175 2 607 earnings (61) 48 Translation adjustment (7) (1) Comprehensive income for 248 17 114 2 655 the year SALIENT FEATURES
Headline earnings (R`m / 175 2 173 EUR`m) 6 213 18 Net asset value per share
1 278 2 059 (cents) 201 133
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