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Group Financial highlights for the year ended 29 February 2024, dividend declaration and notice of AGM
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 29 FEBRUARY 2024, DIVIDEND DECLARATION AND NOTICE OF ANNUAL GENERAL MEETING
- Revenue up 3%
- Operating profit up 1%
- Basic earnings per share down 8%
- Headline earnings per share down 12%
- Cash resources up 7%
- Net asset value per share up 8%
29 February 28 February Change
2024 2023 %
Total assets (R'000) 5 185 446 4 976 881 4.2
Cash resources (R'000) 815 105 761 876 7.0
Net asset value per share (cents) 1 828 1 690 8.2
Revenue (R'000) 12 839 564 12 434 375 3.3
Operating profit (R'000) 781 164 773 412 1.0
Operating profit to revenue (%) 6.1 6.2 (1.6)
Total profit and comprehensive income (R'000) 408 484 443 461 (7.9)
Return on shareholders' funds (%) 31.0 37.3 (16.9)
Basic earnings per share (cents) 546.1 592.8 (7.9)
Headline earnings per share (cents) 541.8 617.1 (12.2)
Dividends paid per share (cents) 386.0 393.0 (1.8)
Dividend declared per share, payable June 2024 (cents) 220.0 240.0 (8.3)
Audit
The consolidated financial statements for the year ended 29 February 2024 have been audited by the Company's auditors, KPMG Inc.,
who expressed an unmodified opinion thereon. The audit opinion is available along with the financial statements, on the Company's website at
https://www.cmh.co.za/annual-reports/.
Dividend declaration
Notice is hereby given that a dividend (dividend number 71) of 220 cents per share will be paid on Tuesday, 18 June 2024 to members reflected
in the share register of the Company at the close of business on the record date, Friday, 14 June 2024. Last day to trade cum dividend is Tuesday,
11 June 2024. First day to trade ex dividend is Wednesday, 12 June 2024. Share certificates may not be dematerialised or rematerialised from
Wednesday, 12 June 2024 to Friday, 14 June 2024, 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 R164 564 396 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 176 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 integrated annual
report for the year ended 29 February 2024 ("2024 IAR") and does not contain complete details. Any investment decision should be based on the
2024 IAR which can be found on the Company's website at https://www.cmh.co.za/annual-reports/ and at the following link
https://senspdf.jse.co.za/documents/2024/jse/isse/CMH/CMHIAR2024.pdf and will be posted on 7 May 2024 to those shareholders who have requested
postal delivery. The 2024 IAR 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 priyag@cmh.co.za.
Notice of annual general meeting
Notice is hereby given that the annual general meeting ("AGM") of shareholders of the Company will be held in the boardroom at CMH head office
located at 1 Wilton Crescent, Umhlanga Ridge, on Tuesday, 11 June 2024 commencing at 14:30. The full notice of meeting can be found in the 2024 IAR.
Important dates
Record date (in terms of section 59(1)(a) of the Act) to receive the Notice of the AGM Friday, 26 April 2024
Notice of AGM distributed to shareholders Tuesday, 7 May 2024
Last day to trade in order to be eligible to vote at the AGM Monday, 27 May 2024
Record date (in terms of section 59(1)(b) of the Act) to vote at the AGM Friday, 31 May 2024
7 May 2024
Sponsor
PWC
Date: 07-05-2024 01:00:00
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