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HOSKEN CONSOLIDATED INVESTMENTS LIMITED - Unaudited condensed consolidated interim results for the six months ended 30 September 2019

Release Date: 21/11/2019 17:41
Code(s): HCI     PDF:  
Wrap Text
Unaudited condensed consolidated interim results
for the six months ended 30 September 2019

HOSKEN CONSOLIDATED INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
Registration number: 1973/007111/06
Share code: HCI
ISIN: ZAE000003257
("HCI" or "the company" or "the group")


UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS 
for the six months ended 30 September 2019


SALIENT FEATURES
                                                              Unaudited     Unaudited
                                                                30 Sept       30 Sept             %
                                                                   2019          2018        change
Revenue**                                          (R'000)    7 340 057     6 880 258            7%
Net gaming win*                                    (R'000)    5 028 729     4 798 570            5%
Property rental income**                           (R'000)      497 098       458 851            8%
EBITDA*                                            (R'000)    3 218 429     3 021 250            7%
Earnings per share                                 (cents)        288.7         536.1          (46%)
Headline earnings per share                        (cents)        467.0         581.2          (20%)
Dividend per share                                 (cents)           55            55            0%
Net asset value per share                          (cents)       19 301        18 476            4%
                                        
Headline profit                                        
Media and broadcasting                                           57 319        23 156           
Gaming                                                          362 208       371 669           
Hotels                                                           16 682        19 883           
Transport                                                        97 743        57 605           
Properties                                                       57 366        31 922           
Coal mining                                                      34 355       141 470           
Branded products and manufacturing                               (8 283)        9 297           
Oil and gas prospecting                                         (16 777)       (5 027)          
Palladium prospecting                                           (23 360)            -           
Other***                                                       (185 492)     (150 856)          
                                                                391 761       499 119          (22%)
                                        
*   Restated
**  Results for prior period restated for reclassification of property rental income amounting to 
    R458.9 million from revenue
*** Results for prior period restated for reclassification of oil and gas prospecting segment


DECLARATION OF CASH DIVIDEND
The directors of HCI have resolved to declare an interim ordinary dividend number 60 of 55 cents 
(gross) per HCI share for the six months ended 30 September 2019 from income reserves. The salient 
dates for the payment of the dividend are as follows:

Last day to trade cum dividend                Tuesday, 10 December 2019
Commence trading ex dividend                Wednesday, 11 December 2019
Record date                                    Friday, 13 December 2019
Payment date                                  Tuesday, 17 December 2019

No share certificates may be dematerialised or rematerialised between Wednesday, 11 December 2019 
and Friday, 13 December 2019, both dates inclusive.

In terms of legislation applicable to Dividends Tax (DT) the following additional information 
is disclosed:
-  The local DT rate is 20%.
-  The number of ordinary shares in issue at the date of this declaration is 90 126 648.
-  The DT amounts to 11 cents per share.
-  The net local dividend amount is 44 cents per share for all shareholders who are not exempt 
   from the DT.
-  Hosken Consolidated Investments Limited's income tax reference number is 9050/177/71/7.

In terms of the DT legislation, any DT amount due will be withheld and paid over to the 
South African Revenue Service by a nominee company, stockbroker or Central Securities Depository 
Participant (collectively "regulated intermediary") on behalf of shareholders. All shareholders 
should declare their status to their regulated intermediary as they may qualify for a reduced 
DT rate or exemption.


DIRECTORS' STATEMENT
The directors, who take responsibility for the contents of this short-form announcement, present 
the unaudited condensed consolidated interim results of Hosken Consolidated Investments Limited 
for the six months ended 30 September 2019. The interim results were prepared under the supervision 
of the financial director, Mr JR Nicolella CA(SA).

The financial information is only a summary and does not contain full details of the interim 
financial results. Any investment decisions by investors and/or shareholders should be based on 
information contained in the full announcement, accessible from 21 November 2019, via the JSE link 
https://senspdf.jse.co.za/documents/2019/jse/isse/HCI/interims.pdf or the company's website 
at www.hci.co.za.

Copies of the full announcement may also be requested by e-mail at info@hci.co.za and are available 
for inspection at the company's registered office, at no charge to investors and/or shareholders, 
during office hours (09:00 - 17:00) from Mondays to Fridays.

Signed on behalf of the board of directors


JA Copelyn                         JR Nicolella
Chief Executive Officer            Financial Director

Cape Town 
21 November 2019


Directors: 
JA Copelyn (Chief Executive Officer), JR Nicolella (Financial Director), TG Govender, Y Shaik, 
MSI Gani*, MF Magugu*, SNN Mkhwanazi*, VE Mphande* (Chairman), JG Ngcobo*, R Watson* 
(* independent non-executive)

Company secretary: 
HCI Managerial Services Proprietary Limited

Registered office:
Suite 801, 76 Regent Road, Sea Point, 8005
PO Box 5251, Cape Town, 8000
Telephone: 021 481 7560
Telefax: 021 434 1539

Auditors: 
BDO South Africa Incorporated
Wanderers Office Park, 52 Corlett Drive, Illovo, 2196
Private Bag X10046, Sandton, 2146

Transfer secretaries:
Computershare Investor Services Proprietary Limited
Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196
PO Box 61051, Marshalltown, 2107

Sponsor:
Investec Bank Limited
100 Grayston Drive, Sandton, Sandown, 2196

Website:
www.hci.co.za

Date: 21/11/2019 05:41:00
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