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Unaudited interim results 30 September 2020
PBT GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1936/008278/06)
JSE share code: PBG ISIN: ZAE000256319
("PBT Group" or "the Company" or "the Group")
INTERIM FINANCIAL RESULTS
For the six months ended 30 September 2020
- Solid organic revenue growth as a result of continued demand for our services
- Excellent cash conversion of earnings mainly due to improved working capital management
- No long-term interest-bearing borrowings
- PBT Group's investment in Zuuse Limited revalued to R103.2 million (2019: R36.8 million)
- Interim distribution of 16 cents per share (2019: 12 cents per share)
INTRODUCTION
PBT Group provides data and analytics solutions and services that capitalise on data-driven
insights, to make well-timed, intuitive business decisions that consistently position our clients
ahead of the curve.
PBT Group takes ownership of clients' challenges - transforming their data into tangible assets that
greatly assist in streamlining operations as well as their predictive and analytical capabilities.
Technological integration is a key enabler in providing clients with custom-made solutions or
services in support of their organisational objectives. As a technology agnostic data specialist
organisation, PBT Group is best positioned to optimise clients' operations without allowing product
or technology to limit their options.
Key financial results
For the six months Percentage
ended 30 September change
2020 2019 %
Revenue (Rand) 389 306 577 320 645 996 21.4
Operating profit (Rand) 40 964 849 33 369 566 22.8
Net profit before tax (Rand) 41 059 837 33 823 004 21.4
Net profit (Rand) 29 788 693 24 229 610 22.9
Profit attributable to owners of the parent (Rand) 18 843 446 16 174 905 16.5
EBITDA (Rand) 45 092 174 36 942 989 22.1
Cash generated from operations (Rand) 58 459 740 40 114 683 45.7
Earnings per share (cents) 21.18 16.37 29.4
Diluted headline earnings per share (cents) 21.20 16.39 29.3
Net asset value per share (cents) 3.42 2.59 32.0
Distribution per share (cents) 16.00 12.00 33.3
INTERIM DISTRIBUTION DECLARATION
The Company's distribution policy is to consider an interim and a final distribution in respect of
each financial year. At its discretion, the Board of Directors may consider a special dividend,
where appropriate. Depending on the need to retain funds for expansion or operating purposes,
the Board of Directors may also elect not to pay dividends.
On Monday, 23 November 2020, the Board of Directors resolved to declare an interim distribution of
16 cents per PBT ordinary share for the six months ended 30 September 2020. The total distribution
will equate to R15 865 143. Each shareholder will be able to elect to receive the distribution as
either a dividend as defined by the Income Tax Act, Act 58 of 1962 or as a capital reduction
distribution in respect of all or a part of their PBT shareholding. If no election is made the
default option will be that a dividend will be paid to such shareholders. A Form of Election
(for use by certificated shareholders) is included in the Interim Results booklet, containing details
of the distribution, which was published on Friday, 27 November 2020. The Form of Election is also
available for download on the Company's website: https://www.pbtgroup.co.za/investor-relations/.
The implications of the elections above are as follows:
- A gross dividend of 16 cents per PBT ordinary share from income reserves will be subject to
dividend withholding tax at a rate of 20%. Consequently, a net final dividend of 12.8 cents per
share will be distributed to those shareholders who are not exempt from paying dividend tax.
In terms of dividend tax legislation, the dividend tax amount due will be withheld and paid over
to the South African Revenue Service by a nominee company, stockbroker or Central Securities
Depository Participant (CSDP) (collectively the "regulated intermediary") on behalf of the
shareholders. However, all shareholders choosing this option should declare their status to
their regulated intermediary, as they may qualify for a reduced dividend tax rate or exemption.
- A capital reduction distribution of 16 cents per PBT ordinary share is not subject to dividend
withholding tax as the distribution is paid out of capital reserves. As the distribution will be
regarded as a return of capital and may therefore have potential capital gains tax consequences,
shareholders are advised to consult their tax advisers regarding the impact of the distribution.
As at the date of declaration of the distribution there were 99 157 141 PBT ordinary shares in
issue. The company's income tax reference number is 9725148713.
In compliance with the Companies Act the Directors confirm and have resolved that the Company will
satisfy the solvency and liquidity test immediately after the payment of the distribution.
In accordance with the provisions of Strate Proprietary Limited, the electronic settlement and
custody system used by the JSE Limited, the relevant dates for the distribution are as follows:
Election period opens Friday, 27 November 2020
Last day to trade "cum distribution" Monday, 14 December 2020
First trading day "ex distribution" Tuesday, 15 December 2020
Record date Friday, 18 December 2020
Dividend/election period closes by 12:00 on Friday, 18 December 2020
Payment date Monday, 21 December 2020
No share certificates may be dematerialised or rematerialised between Tuesday, 15 December 2020 and
Friday, 18 December 2020, both days inclusive. Only the shareholders recorded in the Company's
share register as at record date are entitled to receive the distribution declared.
Payments for certificated shareholders will be transferred electronically to their bank accounts on
payment date. Shareholders who hold dematerialised shares will have their accounts at their central
securities depository participant or broker credited on Monday, 21 December 2020.
By order of the Board
Tony Taylor Elizna Read
Non-Executive Chairman Chief Executive Officer
This short-form announcement is the responsibility of the Directors of the Company. These are
extracts from the Unaudited Condensed Consolidated Interim Results for the six months ended
30 September 2020 and is therefore a summary of the information and does not contain full or
complete details of the financial results.
Any investment decision by investors and/or shareholders should be based on consideration of
the full Unaudited Condensed Consolidated Interim Results announcement as a whole. Shareholders
are encouraged to review the full announcement which is available on the following websites:
Unaudited Condensed Consolidated Interim Results:
Company's website: https://www.pbtgroup.co.za/investor-relations/
JSE website: https://senspdf.jse.co.za/documents/2020/JSE/ISSE/PBGE/PBG0920.pdf
Electronic copies of these documents can also be requested from the Company Secretary at no charge
via e-mail at the following address: anastassia.sousa@pbtgroup.co.za.
PBT GROUP LIMITED
Registered office
PBT House
2 Mews Close
Waterford Mews
Century City, 7441
Sponsor
Sasfin Capital (a member of the Sasfin Group)
29 Scott Street, Waverley
Johannesburg, 2090
www.pbtgroup.co.za
Cape Town
27 November 2020
Date: 27-11-2020 07:05:00
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