COMBINED MOTOR HOLDINGS LIMITED - Abridged consolidated financial statements for the year ended 28 February 2022, and dividend declaration

Abridged consolidated financial statements for the year ended 28 February 2022, and dividend declaration

Combined Motor Holdings Limited
(Registration number: 1965/000270/06) 
(Share code: CMH) 
(ISIN: ZAE000088050) 
("the Company" or "the Group")

GROUP FINANCIAL HIGHLIGHTS FOR THE YEAR ENDED 28 FEBRUARY 2022

-  Basic earnings per share up 122%   
-  Dividends paid per share up 135%   
-  Headline earnings per share up 117%
-  Cash resources up 8% to R817 million

                                                             28 February    28 February    Change
                                                                    2022           2021         %
Total assets                                      (R'000)      3 778 740      3 274 003      15,4
Cash resources                                    (R'000)        817 739        754 825       8,3
Net asset value per share                         (cents)          1 484          1 216      22,0
Revenue                                           (R'000)     11 167 798      8 579 558      30,2
Operating profit                                  (R'000)        606 146        345 045      75,7
Operating profit to revenue                           (%)            5,4            4,0      35,0
Total profit and comprehensive income             (cents)        374 887        168 763     122,1
Return on shareholders' funds                         (%)           37,1           19,6      89,3
Basic earnings per share                          (cents)          501,2          225,6     122,2
Headline earnings per share                       (cents)          501,0          230,4     117,4
Dividends paid per share                          (cents)          235,0          100,0     135,0
Dividend declared per share, payable June 2022    (cents)          225,0          125,0      80,0

Extract from Chief executive officer's report
I report with pride and pleasure on an exceptional set of financial results achieved
during the year to February 2022. The period was a classic case of preparation
meeting opportunity. The tough and stressful decisions and actions taken during
the previous year positioned the Group to take advantage of the few positives that
emerged during a period of continued turmoil.

Audit
The consolidated financial statements for the year ended 28 February 2022
have been audited by the Company's auditors, PricewaterhouseCoopers Inc.,
who expressed an unmodified opinion thereon. The audit opinion also includes
communication of key audit matters. The audit opinion is available along with the
financial statements, and the summary financial results on the Company's website
at https://www.cmh.co.za/annual-reports/.

Dividend declaration
Notice is hereby given that a dividend of 225 cents per share will be paid on
Monday, 13 June 2022 to members reflected in the share register of the Company
at the close of business on the record date, Friday, 10 June 2022. Last day to trade
cum dividend is Tuesday, 7 June 2022. First day to trade ex dividend is Wednesday,
8 June 2022. Share certificates may not be dematerialised or rematerialised
from Wednesday, 8 June 2022 to Friday, 10 June 2022, both days inclusive.
The number of ordinary shares in issue at the date of the declaration is 74 801 998.
Consequently, the gross dividend payable is R168 304 495 and will be distributed
from income reserves. The dividend will be subject to dividend withholding tax at a
rate of 20%, which will result in a net dividend of 180 cents to those shareholders
who are not exempt in terms of section 64F of the Income Tax Act.

Short-form announcement
This short-form announcement is the responsibility of the directors. It is only a
summary of the information contained in the full announcement and does not
contain complete details. Any investment decision should be based on the full
announcement which can be found on the Company's website at www.cmh.co.za
and at the following link 
https://senspdf.jse.co.za/documents/2022/jse/isse/CMH/CMHAR2022.pdf
The full announcement is also available for inspection at the
Company's registered office, and copies thereof may be requested at no charge,
during office hours by phoning the Company Secretary on +27 31 5804200 or via
email at kerriannef@cmh.co.za.

3 May 2022

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 03-05-2022 09:30:00
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