Wrap Text
Audited Results For The Year Ended 31 December 2023
BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
Share code: BEL
ISIN: ZAE000028304
Registration number 1968/013656/06
("Bell Equipment" or "the Company")
AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023
INTRODUCTION
Bell Equipment is a Proudly South African and global company with more than 70 years of experience in the manufacture,
distribution and support of materials handling equipment. Our comprehensive network of Bell branches and independent dealers
supplies equipment solutions, ancillary products and after-sales services to the agriculture, forestry, waste handling,
construction and mining industries worldwide.
The content of this short form announcement is the responsibility of the board of directors of the Company.
Deloitte & Touche have issued an unmodified auditor's report on the annual financial statements for the year ended 31 December 2023.
The auditor's report and the annual financial statements are available on the Company's website at www.bellir.co.za.
Any investment decisions by investors should be based on the audited annual financial statements and investors are encouraged to
review the audited annual financial statements, which is available for viewing on the Company's website (www.bellir.co.za).
Link to financial results https://senspdf.jse.co.za/documents/2024/jse/isse/BEL/Final23.pdf
FINANCIAL AND OPERATING RESULTS
2023 2022 % change
R'000 R'000
Revenue 13 513 560 10 276 220 32
Profit from operating activities 1 193 711 705 188 69
Profit for the year 793 566 478 851 66
Net cash (outflow) inflow for the year (437 474) 14 239 (3 172)
Earnings per share (basic)(cents) 799 478 67
Headline earnings per share (basic)(cents) 798 473 69
Net asset value per share (cents) 5 527 4 565 21
Dividend per share (cents) - 90 (100)
DIVIDEND CONSIDERATION
Over the last two financial years we gained pleasing traction in realising our planned growth, and we will continue along this path.
By its nature, growth in our business requires significant working capital investments in inventory and receivables. With this in mind,
coupled with a reflection on current volatile global political and economic uncertainties, the Board has resolved to preserve cash
resources rather than paying a dividend at this time. This will be reviewed at the interim results stage.
A shareholders presentation is available on the Company's website.
On behalf of the board
Gary Bell Ashley Bell
Chairman Chief Executive
Richards Bay
28 March 2024
DIRECTORS
Non-executive
GW Bell (Chairman), HR van der Merwe* (Lead Independent),
DH Lawrance*, ME Ramathe*, R Naidu*, U Maharaj*, M Geyer*
*Independent
Executive
AJ Bell** (Group Chief Executive), A Goordeen (Alternate),
KJ van Haght (Group Finance Director)
** AJ Bell was appointed as Group Chief Executive with effect from 1 January 2024.
L Goosen resigned as Group Chief Executive with effect from 31 December 2023.
Company Secretary
D McIlrath
Registered Office
13 - 19 Carbonode Cell Road, Alton, Richards Bay, 3900
Transfer Secretaries
JSE Investor Services Proprietary Limited
One Exchange Square, Gwen Lane, Sandown, Sandton, 2196
Sponsor
Investec Bank Limited
100 Grayston Drive, Sandown, Sandton, 2196
Auditors
Deloitte & Touche
www.bellir.co.za
Date: 28-03-2024 02:51:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
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.
Sharenet Sites 
