PSG final results February 2019

Revenue from sale of goods lowered to R13.0 billion (R14.0 billion) whilst gross profit from sale of goods also decreased to R1.6 billion (R2.0 billion). Profit attributable to owners remained unchanged at R1.9 billion (R1.9 billion). In addition, headline earnings per share improved to 1 011 cents per share (908 cents per share).

Ordinary shares
PSG's policy remains to pay up to 100% of available free cash flow as an ordinary dividend, of which approximately one third is payable as an interim and the balance as a final dividend at year-end. The directors have resolved to declare a final gross dividend of 304 cents (2018: 277 cents) per share from income reserves for a total gross dividend of 456 cents (2018: 415 cents) per share in respect of the year ended 28 February 2019.

Preference shares
The directors of PSG Financial Services declared a gross dividend of 418.82 cents per share in respect of the cumulative, non-redeemable, non-participating preference shares for the six months ended 28 February 2019, which was paid on Monday, 25 March 2019. The related detailed announcement was disseminated on the JSE's Stock Exchange News Service.

Company prospects
Despite obvious challenges, PSG remains positive about South Africa and the opportunities it presents. We believe PSG's investment portfolio is suitably positioned to continue yielding above-average returns.

2019-04-24 14:46:16