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Unaudited interim condensed consolidated financial results for the six months ended 31 December 2020
AFRICAN AND OVERSEAS ENTERPRISES LIMITED
JSE share codes: AOO - AON - AOVP ISIN: ZAE000000485 - ZAE000009718 - ZAE000000493
(Incorporated in the Republic of South Africa - Registration Number: 1947/027461/06)
("the company")
SHORT-FORM ANNOUNCEMENT:
UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL RESULTS FOR THE SIX MONTHS
ENDED 31 DECEMBER 2020
African and Overseas Enterprises Limited is an investment holding company with an
investment in Rex Trueform Group Limited ("Rex Trueform"). Rex Trueform is currently
invested in property, retail and water infrastructure. Its interest in retail is through its
wholly-owned subsidiary company, Queenspark Proprietary Limited, and its
subsidiary. Rex Trueform's interest in property includes direct property ownership as
well as indirect property investment through a subsidiary. Rex Trueform's investment
in water infrastructure is through its subsidiary, Ombrecorp Trading (RF) Proprietary
Limited, and its investments.
FINANCIAL HIGHLIGHTS
• Revenue decreased by 36.2% to R249.0 million (2019: R390.5 million)
• Gross profit margin % decreased to 49.2% (2019: 51.1%)
• Operating profit decreased by 70.9% to R10.8 million (2019: R37.2 million)
• Profit after tax decreased by 92.2% to R1.2 million (2019: R15.5 million)
• Earnings per share decreased by 104.0% to -2.8 cents (2019: 70.7 cents)
• Headline earnings per share decreased by 92.4% to 5.4 cents (2019: 70.7 cents)
• Net asset value per share decreased by 27.7% to R11.10 (2019: R15.35)
• Ordinary dividend per share paid amounted to nil cents (2019: nil cents)
This short-form announcement is the responsibility of the company's directors. It is
a summary of the information in the company's full results released on SENS on 26
March 2021 and does not contain full or complete details. Revenue, gross profit
margin %, operating profit and profit after tax reflects results from continuing
operations. Any investment decisions should be based on the full results which are
available on the company's website at www.rextrueform.com. Copies of the full
results announcement may be requested at the company's registered office at no
charge, or from the company secretary directly at legal@rextrueform.com.
MR Molosiwa MA Golding
(Chairman) (Chief Executive Officer)
Cape Town - 26 March 2021
JSE SENS Link: https://senspdf.jse.co.za/documents/2021/jse/isse/AOO/HY2021.pdf
Directors: MR Molosiwa* (Chairman), MA Golding (Chief Executive Officer), WD Nel (Financial
Director), HB Roberts*, PM Naylor*, LK Sebatane*
*Independent non-executive
Registered office: 263 Victoria Road, Salt River, Cape Town, 7925
Company secretary: AR Mushabe
Transfer secretaries: Computershare Investor Services Proprietary Limited; Rosebank Towers, 15
Biermann Avenue, Rosebank, 2196
Sponsor: Java Capital
www.rextrueform.com
Date: 26-03-2021 04:15:00
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