Adcorp final results February 2019
Revenue for the year decreased to R15.065 billion (2018: R15.325 billion), gross profit lowered to R2.033 billion (2018: R2.228 billion), operating profit soared to R387.7 million (2018: R8 million), profit attributable to owners of the parent from continuing operations turned around to R261.9 million (2018: loss of R423 million), while headline earnings per share improved to 234 cents per share (2018: headline loss of 86 cents per share).
The Board has made the decision to resume the payment of dividends by declaring 96.10 cents per share as a full and final dividend for the year ended 28th February 2019. Going forward, the Board will be targeting a dividend cover ratio of 1.5x, but this will be confirmed at the interim results for the 2020 financial year.
Company outlook and prospects
In the new financial year, we will turn our attention to the implementation of our new operating model and growth strategy in South Africa and provide greater focus on the prospects for our Australia business.
The Group is committed to achieving its transformation, ensuring future revenue growth and sustained EBITDA margin improvement, while continuing to deliver strong free cash flow.
We remain enthusiastic about our value proposition and are proud to be part of an organisation that is committed to using its capabilities and market position to improve socio-economic matters in our communities by increasing employability and connecting people with opportunities.