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BOWLER METCALF LIMITED - Summary of Audited Group Financial Results & Dividend Declaration for the Year Ended 30 June 2020

Release Date: 08/09/2020 17:00
Code(s): BCF     PDF:  
Wrap Text
Summary of Audited Group Financial Results & Dividend Declaration for the Year Ended 30 June 2020

BOWLER METCALF LIMITED
(Registration number 1972/005921/06)
Share code: BCF        ISIN number: ZAE000030797

SUMMARY OF AUDITED GROUP FINANCIAL RESULTS AND DIVIDEND DECLARATION FOR THE YEAR
ENDED 30 JUNE 2020


                                                                                           %
                                                                    2020               Change                   2019

 Net asset value – R’mil                                           681.0                  + 0                  679.1
 Earnings – R’mil
 Continuing operations
 Revenue                                                           558.7                  + 3                  542.1
 Profit from operations                                             89.9                  + 41                  63.6
 Net profit before tax                                             115.1                  + 15                 100.0
 Net profit after tax                                               82.4                  + 15                  71.9

 Discontinued operations
 Profit on disposal of associate                                       -                  - 100                180.1
 Net profit before tax                                                 -                  - 100                180.1
 Net profit after tax                                                  -                  - 100                140.1

 Attributable to parent – total
 Net profit before tax                                             115.2                  - 59                 280.1
 Total comprehensive income                                         82.4                  - 61                 211.9

 Earnings – cents per share
 Continuing operations
 Earnings                                                         111.03                  + 26                 88.09
 Headline earnings                                                112.75                  + 28                 88.10

 Discontinued operations
 Earnings                                                              -                  -100                171.32
 Headline earnings                                                     -                                           -

 Attributable to parent – total
 Earnings                                                         111.03                  - 57                259.41
 Headline earnings                                                112.75                  + 28                 88.10

 Dividends – cents per share
 Final previous year paid                                          25.00                  + 16                 21.54
 Special dividend paid                                                 -                  - 100               305.00
 Interim this year paid                                            17.00                  + 13                 15.00
 Final this year proposed                                          29.50                  + 18                 25.00


A final gross cash dividend, as defined by the Income Tax Act, of 29.50 cents per share(“cps”) (23.60 cents per share
net) for the year ended 30 June 2020 (2019: 25.00 cps) has been declared and is payable to shareholders on Monday,
26 October 2020. The last day to trade will be Tuesday, 20 October 2020, the ex date is Wednesday, 21 October 2020
and the record date will be Friday, 23 October 2020. Share certificates may not be dematerialised or re-materialised
between Wednesday, 20 October 2020 and Friday, 23 November 2020, both days inclusive.

The short-form announcement is the responsibility of the directors and is only a summary of the information in the full
announcement and does not contain full or complete details. Any investment decisions by investors and/or shareholders
should be based on consideration of the full announcement published on SENS and the Company’s website as a whole.

The full announcement can be found on the Company’s website at www.bowlermetcalf.co.za and also at the following
link:

https://senspdf.jse.co.za/documents/2020/JSE/ISSE/BCF/BCFAR2020.pdf

Mazars, the group’s independent auditors, has audited the consolidated annual financial statements of the Group for
the year end 30 June 2020, and has expressed an unqualified audit opinion thereon. A key audit matter was raised on
the impact COVID-19 outbreak has had on Bowler’s results.

Copies of the full announcement may also be requested at the Company’s registered office and at the offices of the
sponsor, at no charge, during office hours. Any investment decision should be based on the full announcement released
on SENS on 8 September 2020 and published on the Company's website at www.bowlermetcalf.co.za as a whole,
copies of which may be requested at the company's registered office, and the offices of the sponsors, AcaciaCap
Advisors, at no charge, by phoning the Company during office hours on +27 21 704 2223.

Prepared by: AC September CA(SA)                                                                8 September 2020

Date: 08-09-2020 05:00:00
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