KAP final results June 2019

Revenue for the year rose 12% to R25.6 billion (R22.8 billion). Operating profit was 16% lower at R2.4 billion (R2.8 billion). Profit attributable to owners fell 33% to R1.03 billion (R1.54 billion). In addition, headline earnings per share from continuing operations was recorded at 45.9 cents per share (61.6 cents per share).

The board of directors is pleased to announce that a gross dividend of 23 cents per share (FY18: 23 cents per share) for the financial year ended 30 June 2019 has been approved and declared.

The macroeconomic and political environment in South Africa is expected to remain challenging and uncertain for the foreseeable future, with limited real economic growth and subdued consumer spending. The company remains focused on the execution of its strategy, the optimisation of its operations, market share growth and generation of cash to further strengthen its balance sheet and to provide a platform for growth. Various new capacity expansion projects and technology investments have been initiated that will be commissioned during F2020. Management continue to seek out further capacity expansion opportunities, in line with the groupís strategy in order to grow earnings and enhance shareholder returns. Acquisition opportunities that meet the groupís strategic requirements and create shareholder value remain a key element of the growth objectives of management. It is anticipated that the current distressed economic environment will yield increased opportunities in this regard.

2019-08-20 12:34:46