Peregrine final results March 2019

Total revenue for the year decreased 10% to R1.6 billion (R1.8 billion) and profit from operations decreased by 17% to R456.9 million (R552.4 million). Profit for the year attributable to equity holders was down by 18% to R422.8 million (R513.2 million). In addition, headline earnings per share from continuing operations decreased to 174.7 cents per share (190.6 cents per share).

In line with the stated dividend pay-out ratio of 80%-90% of Segmental headline earnings per share, the directors have resolved to declare a final cash dividend of 100.00 cents per share for the financial year ended 31 March 2019.

These results have been achieved against a backdrop of challenging operating conditions locally, including a weak economy and subdued market sentiment, as well as muted returns on both local and international equity markets. Despite these conditions, the continuing focus on growing annuity revenue streams is reaping rewards and will continue to be a major focus for the Group going forward. As advised to shareholders, the dividend payout ratio has been meaningfully increased now that the Group's capital intensive business has been disposed of and it is the continued intention of the Group to return to shareholders a substantial portion of earnings by way of dividends going forward.

2019-06-20 08:46:38