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BELL EQUIPMENT LIMITED - Abridged consolidated results for the year ended 31 December 2019

Release Date: 29/05/2020 13:10
Code(s): BEL     PDF:  
 
Wrap Text
Abridged consolidated results for the year ended 31 December 2019

BELL EQUIPMENT LIMITED									
(Incorporated in the Republic of South Africa)									
(Registration number 1968/013656/06)									
Share code: BEL									
ISIN: ZAE000028304									
("Bell Equipment" or "the Company")									
									
ABRIDGED CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019
									
									
INTRODUCTION									
									
Bell Equipment is a Proudly South African company with more than 60 years of experience in the manufacture,
distribution and support of materials handling equipment. Our comprehensive network of Bell branches and
independent dealers supplies equipment solutions, ancillary products and after-sales services to the
agriculture, forestry, waste handling, construction and mining industries worldwide.

The content of this short form announcement is the responsibility of the board of directors of the Company.
Deloitte & Touche have issued an unmodified auditor's report on the annual financial statements for the year
ended 31 December 2019. The report also includes communication of key audit matters. Key audit matters are
those matters that, in their professional judgement, were of most significance in their audit of the annual
financial statements of the current period.	
									
Shareholders are advised that this short form announcement represents a summary of the information
contained in the full announcement and does not contain full or complete details of the financial results.

Any investment decisions by investors and/or shareholders should be based on a consideration of the full
announcement as a whole and shareholders are encouraged to review the full announcement, which is available
for viewing on the Company's website (http://www.bellir.co.za).									
									
Link to full results https://senspdf.jse.co.za/documents/2020/jse/isse/BEL/Final19.pdf	
									
									
FINANCIAL AND OPERATING RESULTS 									
							 2019		 2018		% change
							R'000	        R'000	
Revenue						    7 823 169	    7 534 438		       4
Profit from operating activities		      230 561	      453 751		    (49)
Profit for the year				       60 955	      276 417		    (78)
Net cash outflow for the year			    (305 710)	     (14 153)		   2 060
Earnings per share (basic)(cents)			   79		  283		    (72)
Headline earnings per share (basic)(cents)		   80		  278		    (71)
Net asset value per share (cents) 			3 595		3 526		       2
									
DIVIDENDS									
In the current difficult economic circumstances, the board of directors has resolved not to declare a final
dividend for the year ended 31 December 2019 (2018: gross final cash dividend of 25 cents per share).									
									
									
On behalf of the board									
									
									
									
Gary Bell			Leon Goosen						
Chairman 			Chief Executive						
									
Richards Bay									
29 May 2020									
									
									
DIRECTORS									
Non-executive									
GW Bell (Chairman), JR Barton* (Lead Independent),									
DH Lawrance*, HR van der Merwe*, ME Ramathe*, R Naidu*, AJ Bell									
*Independent									
From 1 December 2019, AJ Bell's designation changed from executive director									
to non-executive director.									
									
Executive									
L Goosen (Group Chief Executive), A Goordeen (Alternate), 									
KJ van Haght (Group Finance Director)									
																
Registered Office									
13 - 19 Carbonode Cell Road, Alton, Richards Bay, 									
3900									
									
Company Secretary									
D McIlrath									
									
Transfer Secretaries									
Link Market Services South Africa Proprietary Limited									
19 Ameshoff Street, Johannesburg, 2001									
									
Sponsor									
Investec Bank Limited									
100 Grayston Drive, Sandown, Sandton, 2196									
									
Auditors									
Deloitte & Touche									
									
http://www.bellir.co.za

Date: 29-05-2020 01:10:00
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