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FINBOND GROUP LIMITED - Unaudited consolidated interim results for the six months ended 31 August 2019

Release Date: 31/10/2019 17:30
Code(s): FGL     PDF:  
Wrap Text
Unaudited consolidated interim results for the six months ended 31 August 2019

FINBOND GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2001/015761/06)
Share code: “FGL”
ISIN: ZAE000138095
(“Finbond” or “the Company” or “the Group")

UNAUDITED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2019

HIGHLIGHTS

•   Total Assets increased by 18.4% to R4.30 billion (Aug 2018*: R3.63 billion).
•   Cash and Cash Equivalents increased by 25.6% to R969.7 million (Aug 2018: R772.3 million).
•   Unsecured loans and other advances to customers increased by 12.2% to R923.3 million (Aug 2018*:
    R822.9 million).
•   Equity attributable to owners increased by 5.3% to R1.62 billion (Aug 2018*: R1.54 billion).
•   Interest income increased by 15.1% to R937.9 million (Aug 2018*: R814.9 million).
•   Revenue from continuing operations increased by 3.3% to R1.29 billion (Aug 2018*: R1.25 billion).
•   Revenue from North American operations as a percentage of Total Revenue increased by 10.0% to
    66% (Aug 2018*: 60%).
•   Net impairment on loans and advances as a percentage of revenue from continuing operations
    strengthened by 15.1% to 18.6% (Aug 2018*: 21.9%).
•   Earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 10.3% to
    R340.5 million (Aug 2018*: R308.6 million).
•   The value of loans advanced increased by 9.1% to R2.87 billion (Aug 2018: R2.63 billion).
•   Cash received from customers increased by 3.2% to R3.78 billion (Aug 2018: R3.67 billion).


SHORT FORM ANNOUNCEMENT

The contents of the short form announcement are the responsibility of the Board of Directors of Finbond.
The information in the short form announcement is a summary of the full announcement available on the
Company's website (www.finbondlimited.co.za) on 31 October 2019 and accordingly does not contain full
or complete details. The full announcement can also be accessed online at
https://senspdf.jse.co.za/documents/2019/JSE/ISSE/FGL/FGLIn2019.pdf.

The information in this announcement has been extracted from the Unaudited Condensed Consolidated
Interim Financial Results, which has not been reviewed nor audited by the Company's auditor. The
Unaudited Condensed Consolidated Interim Financial Results were internally compiled by Mr. GW
Labuschagne, the Group Financial Director.

Any investment decisions by shareholders/investors should be based on the full announcement as
released by the JSE and published on the Company's website, www.finbondlimited.co.za. The full
announcement is also available at the Company's registered office (for inspection, at no charge, during
office hours on any business day) and at the offices of the sponsor, Grindrod Bank Limited, from 31
October 2019. Copies of the full announcement may be requested by contacting the Company Secretary,
Mr. B Bredenkamp.

                                                                 Six Months
                                              Six Months            ended                      Full year
                                                 ended            31 August         %         28 February
                                            31 August 2019         2018**         Change        2019 **

 Revenue (R'000)                               1,292,683          1,250,788        3.3%        2,578,297
 Basic earnings per share (cents)                 5.0                10.4         (52.5%)          3.2
 Diluted earnings per share (cents)               5.0                10.4         (52.5%)          3.2
 Headline earnings per share (cents)              5.0                10.5         (52.5%)         14.5
 Diluted Headline earnings per share
 (cents)                                          5.0               10.5          (52.5%)        14.5
 Dividend per share (cents)                        -                  -              -           1.55
 Net asset value per share (cents)               196.0              195.3          0.4%          175.3




For and on behalf of the Board

Dr Malesela Motlatla                   Dr Willem van Aardt

31 October 2019

Directors

Chairman: Dr MDC Motlatla* (BA, DCom (Unisa)); Chief Executive Officer: Dr W van Aardt (BProc (Cum
Laude), LLM (UP), LLD (PU CHE) Admitted Attorney of The High Court of South Africa, QLTT (England and
Wales), Solicitor of the Supreme Court of England and Wales); Chief Financial Officer: GW Labuschagne
(CA (SA), CPA (CA), BCom (Hons Acc), BCom (Fin Acc) (Cum Laude)); Adv N Melville* (B Law. LLB (KZN) LLM
(Cum Laude)(KZN), SEP (Harvard); HJ Wilken-Jonker* (BCom Hons (Unisa); MSc (Consumer Sciences) (UP));
HG Kotze* (BCom (Acc)(Hons), HDip Tax, Certificate in Treasury Management); PA Naude* (BCom
(Marketing), Gaining Competitive Advantage (Michigan), IEP (INSEAD)); DC Pentz* (B Com (Hons),
(Chartered Accountant (SA), AEP (Unisa)); Company Secretary: Mr BC Bredenkamp (BCom Accounting,
LLB, MBA)

*Non-executive

Transfer secretaries: Link Market Services South Africa (Proprietary) Limited (Registration number
2000/007239/07) 19 Ameshoff St, Johannesburg, 2001 (PO Box 4844, Johannesburg, 2000)

Sponsor: Grindrod Bank Limited

Date: 31/10/2019 05:30:00
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