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Summarised audited consolidated results for the year ended 31 December 2019
KAYDAV GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/038698/06)
JSE share code: KDV ISIN: ZAE000108940
("KayDav" or "the Group" or "the company")
SHORT-FORM ANNOUNCEMENT: SUMMARISED AUDITED CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019
Financial results
The Group's revenue increased by 3% from R1.0 billion for the year ended 31 December 2018
to R1.03 billion for the year ended 31 December 2019.
Headline earnings per share ("HEPS") and earnings per share ("EPS") decreased to 12.7 cents and
12.6 cents respectively for the year ended 31 December 2019 from the 15.1 cents and 15.3 cents for the
year ended 31 December 2018.
The net asset value ("NAV") per share attributable to ordinary shareholders increased by 2% from
136.5 cents at 31 December 2018 to 139.5 cents at 31 December 2019.
Nature of business
KayDav comprises a group of businesses involved in the distribution of wood-based panels and packaging
consumables and machinery. Wood-based panels are manufactured through the compression of
wood waste into solid panels. These panels have a variety of applications in the construction, furniture
manufacturing and shopfitting industries. Packaging consumables and machinery are products and machines
which cater for a wide variety of packaging requirements in the industrial, agricultural and commercial
sectors.
Audit opinion
The Group received an unqualified audit report from its auditor, BDO South Africa Incorporated. Key
audit matters identified were:
- The testing for goodwill impairment due the high estimation uncertainty involved in value-in-use
calculations, and
- The application of the new accounting standard, IFRS 16 Leases, due to the material effect on the
financial statements and the estimation uncertainty involved in determining the discount rate and lease
term.
The full audit report and the audited annual financial statements can be accessed on the Group's website
through the following link: http://www.kaydav.co.za/wp-content/uploads/2020/03/2019-KayDav-Audit-
report-and-Annual-Financial-Statements.pdf
Short-form announcement
This short-form announcement is the responsibility of the directors of the company. This short-form
announcement is only a summary of the information in the full announcement and does not contain
full or complete details. Any investment decision by investors and/or shareholders should be based on
consideration of, inter alia, the full announcement.
The full announcement can be accessed at the following web locations:
- SENS by following the link:
https://senspdf.jse.co.za/documents/2020/jse/isse/KDV/2019AFS.pdf
- KayDav's website by following the link:
http://www.kaydav.co.za/wp-content/uploads/2020/03/2019-KayDav-Annual-Results-Announcement.pdf
A copy of the full announcement may be requested by emailing the company at mslier@kaydav.co.za or
the sponsor, Java Capital at sponsor@javacapital.co.za.
31 March 2020
Cape Town
Directors: GF Davidson* (CEO), M Slier* (CFO), S van Niekerk# (Chairperson), B Tlhabanelo#,
F Davidson# *Executive #Non-Executive | Company Secretary: CIS Company Secretaries (Pty) Ltd
Registered Address: 105 Bamboesvlei Road, Ottery, 7800 | Postal Address: PO Box 272, Ottery, 7808
Transfer Secretaries: Link Market Services South Africa (Pty) Ltd | Sponsor: Java Capital
Website: www.kaydav.co.za
Date: 31-03-2020 01:30:00
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