Ellies final results April 2018
Revenue for the year rose to R1.4 billion (R1.3 billion) whilst gross profit was higher at R402.8 million (R334.1 million). Profit from operations came to R76.6 million (loss of R62.0 million). Profit attributable to equity holders was R42.4 million (loss of R246.0 million). furthermore, headline earnings per share was 7.89cps (headline loss of 7.45cps).
The dividend policy will be reviewed periodically, considering prevailing circumstances and future cash requirements. In view of the Group's financial position, no dividend is proposed at this stage.
Availability of Integrated Annual Report and Broad-based black economic empowerment annual compliance report The company's Integrated Annual Report, incorporating the audited annual financial statements for the year ended 30 April 2018 and the company's annual compliance report in terms of section 13G(2) of the Broad-based Black Economic Empowerment Act 53 of 2003 (read with the Broad-based Black Economic Empowerment Amendments Act 46 of 2013) have been published and will be available on the Ellies website on Monday, 30 July 2018.
Notice is hereby given that the Annual General Meeting of shareholders ("Annual General Meeting" or "AGM") of Ellies Holdings Limited ("Ellies" or "the company") will be held at 94 Eloff Street Ext, Village Deep, Johannesburg, 2001 on Friday, 7 December 2018 at 11:00. The last day to trade in order to be eligible to participate in and vote at the AGM is Tuesday, 27 November 2018 and the record date for voting purposes is Friday, 30 November 2018. The summarised audited financial information for the year ended 30 April 2018, together with the notice of AGM will be dispatched to shareholders on Tuesday, 31 July 2018.
The current trading environment is tough and is not expected to change in the foreseeable future.
The Group remains focused on optimising operational efficiencies within its existing business and will accelerate this, particularly at head office. We are in the process of implementing a warehouse management system and will look to overhaul the way we do business by embracing digitisation, IT and accounting electronic work-flow management. The way we interact with our suppliers and customers will change significantly to reduce the cost of doing business.
The Group will also seek out strategically aligned trading and distribution-related acquisitions, as alluded to above.