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BOWLER METCALF LIMITED - Audited Group Financial Results for the year ended 30 June 2019 and Dividend Declaration

Release Date: 12/09/2019 07:05
Code(s): BCF     PDF:  
 
Wrap Text
Audited Group Financial Results for the year ended 30 June 2019 and Dividend Declaration

Bowler Metcalf Limited
REG NO : 197 2/005921106    ALPHA CODE : BCF    ISIN CODE : ZAE000030797


SUMMARY OF AUDITED GROUP FINANCIAL
RESULTS AND DIVIDEND DECLARATION
for the year ended 30 June 2019
                                                             %
                                             2019         Change                  2018

Net asset value • R'mil                     679.1           -11                  766.1

Earnings - R'mil
Continuing operations
Revenue                                     542.1            -6                  577.3
Profit from operations                       63.6           -34                   95.8
Net profit before tax                       100.0            -8                  109.1
Net profit after tax                         71.9            -8                   78.3

Discontinued operations

Share of profit of associate                                -100                  22.7

    - share of post-tax profit before
      impairments                                           -100                  13.3
    - net finance income from
      associate                                             -100                   9.4

Reversal of impairment of
investment in associate                                                           57.7
Profit on disposal of associate             180.1          +100
Net profit before tax                       180.1          +324                   80.4
Net profit after tax                        140.0          +326                   61.9

Attributable to parent - total
Net profit before tax                       280.1          +48                   189.3
Total comprehensive income                  211.9          +251                  140.3

Earnings • cents per share
Continuing operations
Earnings                                    88.09            -8                  95.50
Headline earnings                           88.10            -8                  95.36

Discontinued operations
Earnings                                   171.32                                75.58
Headline earnings                                                                20.98

Attributable to parent - total
Earnings                                   259.41          +252                 171.08
Headline earnings                           88.10          - 24                 116.34

Dividends - cents per share
Final previous year paid                    21.54            -5                  22.70
Special dividend paid                      305.00           100
Interim this year paid                      15.00           - 27                 20.48
Final this year proposed                    25.00           + 16                 21.54


A final gross cash dividend, as defined by the Income Tax Act, of 25.00 cents
per share ("cps") for the year ended 30 June 2019 (2018: 21.54 cps) has been
declared and is payable to shareholders on Monday, 4 November 2019. The last
day to trade will be Tuesday, 29 October 2019, the ex date is Wednesday, 30
October 2019 and the record date will be Friday, 1 November 2019. Share
certificates may not be dematerialised or re-materialised between Wednesday,
30 October 2019 and Friday, 1 November 2019, both days inclusive.

The short-form announcement is the responsibility of the directors and is only a
summary of the information in the full announcement and does not contain full or
complete details. The full announcement can be found on the Company's
website at www.bowlermetcalf.co.za and also at the following link:
https://senspdf.jse.co.za/documents/2019/JSE/ISSE/BCF/BCFLV2019.pdf

Copies of the full announcement may also be requested at the Company's
registered office and at the offices of the sponsor, at no charge, during office
hours. Any investment decision should be based on the full announcement
released on SENS on 12 September 2019 and published on the company's
website at www.bowlermetcalf.co.za as a whole, copies of which may be
requested at the company's registered office, and the offices of the sponsors,
Arbor Capital, at no charge, by phoning the company during office hours on
+27 21 704 2223.

Prepared by: AC September CA(SA)                      12 September 2019

Date: 12/09/2019 07:05:00
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