Wrap Text
Condensed consolidated interim results for the six months to 31 December 2019
TRANSPACO LIMITED
Registration number 1951/000799/06
ISIN: zae000007480
Share code: TPC
(Transpaco or the group)
SHORT-FORM ANNOUNCEMENT: CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS TO 31 DECEMBER 2019
- NET ASSET VALUE PER SHARE 2 012 CENTS
- HEADLINE EARNINGS PER SHARE 122,3 CENTS
- DIVIDEND PER SHARE 33,0 CENTS
FINANCIAL RESULTS
Unaudited
Unaudited Unaudited adjusted
Unaudited adjusted Unaudited six months six months
Six months six months six months December December
to December IFRS 16 December December 2019 2019
2019 adjustment 2019 2018 % change % change
Continuing operations
Revenue from continuing operations (R'000) 1 078,7 - 1 078,7 1 046,4 3,1 3,1
Earnings per share (cents) 161,1 5,0 166,0 136,1 18,4 22,0
Diluted earnings per share (cents) 161,1 5,0 166,0 136,1 18,4 22,0
Headline earnings per share (cents) 161,1 5,0 166,1 136,5 18,0 21,7
Diluted headline earnings per share (cents) 161,1 5,0 166,1 136,5 18,0 21,7
Discontinued operations
Loss per share (cents) (38,9) - (38,9) (24,1) 61,4 61,4
Diluted loss per share (cents) (38,9) - (38,9) (24,1) 61,4 61,4
Headline loss per share (cents) (38,8) - (38,8) (24,1) 61,1 61,1
Diluted headline earnings per share (cents) (38,8) - (38,8) (24,1) 61,1 61,1
Total operations
Earnings per share (cents) 122,2 5,0 127,1 112,0 9,1 13,6
Diluted earnings per share (cents) 122,2 5,0 127,1 112,0 9,1 13,6
Headline earnings per share (cents) 122,3 5,0 127,2 112,4 8,8 13,2
Diluted headline earnings per share (cents) 122,3 5,0 127,2 112,4 8,8 13,2
Net asset value per share (cents) 2 012,0 1 908,0 5,5
DISCONTINUED OPERATIONS
On 30 September 2019 the board of directors approved a decision to discontinue all recycling manufacturing
operations being carried out by Transpaco Recycling (Pty) Ltd and included in the plastic products reportable
segment. Due to international and local market forces in the plastic recycling industry Transpaco was no longer
deriving any economic benefit from remaining in the post-consumer recycling market. Selling price levels were
restricted due to prevailing virgin polymer prices while energy, labour and distribution costs, among others,
kept rising. With no likelihood of the situation improving in the short to medium term, and in order to stem
losses, the board decided to discontinue the operation and to dispose of the business or the assets within the
next financial year.
DIVIDEND
The board has declared an interim gross cash dividend out of income reserves of 33,0 cents per share
(December 2018: 30,0 cents per share) for the six-month period ended 31 December 2019. After applying the dividend
withholding tax of 20%, a net interim dividend of 26,40000 cents per share will be paid to those shareholders
who are not exempt from the dividends tax. The issued shares at the date of declaration is 32 886 359 ordinary
shares. The income tax reference number is 9975/112/71/6.
The salient dates for the dividend are as follows:
Last date to trade shares cum dividend Tuesday, 10 March 2020
Shares trade ex dividend Wednesday, 11 March 2020
Record date Friday, 13 March 2020
Payment date Monday, 16 March 2020
Share certificates may not be dematerialised or rematerialised between Wednesday, 11 March 2020 and Friday,
13 March 2020, both days inclusive.
ADMINISTRATIVE INFORMATION
This short-form announcement is the responsibility of the directors and is only a summary of the information
in the full announcement. The full announcement was released on SENS on 21 February 2020, and can be found on
the company's website at www.transpaco.co.za and on the following JSE link:
https://senspdf.jse.co.za/documents/2020/jse/isse/TPC/Interims.pdf
Any investment decision should be based on the full announcement published on SENS and on the company's
website.
Copies of the full announcement may be requested from the company secretary at Hendrik@transpaco.co.za.
On behalf of the board
DJJ Thomas PN Abelheim L Weinberg
Non-executive Chairman Chief Executive Financial Director
24 February 2020
DIRECTORS
DJJ Thomas (Chairman)*; PN Abelheim (Chief Executive); L Weinberg (Financial Director); HA Bothaˆ;
SR Bouzaglou; B Mkhondoˆ; SP van der Linde (Lead Independent Director)ˆ
* Non-executive ˆ Independent non-executive
Transpaco Limited Registration number: 1951/000799/06, Share code: TPC, ISIN: ZAE000007480
Auditors Ernst & Young Inc. Company Secretary HJ van Niekerk Sponsor Investec Bank Limited
Registered office 331 6th Street, Wynberg, Sandton Transfer secretaries Computershare Investor Services
(Pty) Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg
Website www.transpaco.co.za
Date: 24-02-2020 12:10:00
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