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NU-WORLD HOLDINGS LIMITED - Summarised audited consolidated annual results for the year ended 31 August 2023,dividend declaration, notice of AGM

Release Date: 26/10/2023 12:00
Code(s): NWL     PDF:  
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Summarised audited consolidated annual results for the year ended 31 August 2023,dividend declaration, notice of AGM

Registration No. 1968/002490/06
(Incorporated in the Republic of South Africa)
JSE share code: NWL ISIN code: ZAE000005070
("Nu-World" or "the Group" or "the Company")


Introduction to the Nu-World Holdings Group

Nu-World is a company incorporated and domiciled in South Africa with subsidiaries in Australia, Brazil, United Arab
Emirates and Hong Kong. The main business of Nu-World and its subsidiaries includes the importing, assembling,
marketing and distribution of branded consumer goods.

The Board presents the Nu-World summary results for the twelve months ended 31 August 2023. The Group's results
to 31 August 2023 were disappointing due to a severely distressed South African economy and slowly recovering
Global economy.

In SA, revenue decreased by 23,1% compared to the prior year due to a combination of weak volume growth, subdued
selling price inflation and reduced consumer discretionary expenditure, although H2 2023 showed a remarkable
improvement in profitability.

Offshore operations increased revenue by 25,0%, although impacted to some extent by the stronger USD, the increase
primarily attributable to better penetration in the markets in which we trade.

Financial highlights

                                                                                        Year ended        Year ended
                                                                                            31-Aug            31-Aug
                                                                                                2023             2022
                                                                                               R000             R000
 Total revenue                                                         (11,6%)            1 901 931        2 151 831
 Basic earnings                                                        (16,8%)               70 578           84 818
 Basic earnings (cents per share)                                      (16,3%)                 329,9            394,3
 Headline earnings (cents per share)                                   (16,3%)                 329,8            394,1
 Net asset value (cents per share)                                        6,4%               7 179,9          6 745,7
 Dividend per share (cents)                                                                    125,3            149,8

Notice is hereby given that a final gross dividend of 125,3 cents per share was declared on 26 October 2023 payable to
shareholders recorded in the register of Nu-World at the close of business on the record date appearing below. The
dividend is payable out of cash reserves.

   -   Dividends have been declared out of profits available for distribution.
   -   Local Dividends Withholding Tax rate is 20%.
   -   The gross dividend amount is 125,3 cents per ordinary share.
   -   The net cash dividend amount is therefore 100,24 cents per ordinary share.
   -   The Company has 22 525 541 ordinary shares in issue as at the declaration.
   -   The Company's income tax reference number is 9100/085/71/2.

The salient dates pertaining to the final dividend are as follows:

Declaration announcement:                               Thursday. 26 October 2023
Last date to trade "cum" dividend                       Tuesday, 12 December 2023
Date trading commences "ex" dividend                    Wednesday, 13 December 2023
Record date                                             Friday, 15 December 2023
Date of payment                                         Monday, 18 December 2023

Ordinary share certificates may not be dematerialised or rematerialised between Wednesday, 13 December 2023 and
Friday, 15 December 2023, both days inclusive.

Where applicable, dividends in respect of certificated shares will be transferred electronically to shareholders' bank
accounts on the payment date. In the absence of specific mandates, dividend cheques will be posted to shareholders.
Ordinary shareholders who hold dematerialised shares will have their accounts at their CSDP or broker credited on
Monday, 18 December 2023.

Annual report and notice of AGM

The 2023 Integrated Annual report and the notice of AGM will be issued on or prior to 29 November 2023.

The annual general meeting will take place at 10h00 on Wednesday, 7 February 2024, at the registered office of the
Company. Shareholders are referred to the salient dates and venue below:

 MEETING VENUE                                                                                       The Boardroom
                                                       Nu-World Holdings Limited, 682 Pretoria Main Road, Wynberg,

 RECORD DATE – to determine which                                                         Friday, 17 November 2023
 shareholders are entitled to receive the Notice
 of AGM
 PUBLICATION/POSTING date                                                                 Monday, 27 November 2023

 LAST DATE TO TRADE – last day to trade to                                                Tuesday, 23 January 2024
 determine eligible shareholders that may
 attend, speak and vote at the AGM
 RECORD DATE – record date to determine                                                    Friday, 26 January 2024
 eligible shareholders that may attend, speak
 and vote at the AGM
 MEETING         DEADLINE        DATE        (for                                          Monday, 5 February 2024
 administrative purposes, forms of proxy for the
 meeting to be lodged by 10h00
 MEETING DATE                                                                           Wednesday, 7 February 2024

 PUBLICATION OF RESULTS on SENS                                                         Wednesday, 7 February 2024

 WEBSITE LINK                                                                   

Auditor's opinion

These summarised financial statements for the year ended 31 August 2023 have been audited by RSM South Africa
Inc., who expressed an unmodified audit opinion. A copy of the auditor's report is available for inspection at the
Company's registered office together with the financial statements identified in the auditor's report.

Full announcement

This short-form announcement is the responsibility of the Directors of the Company and is only a summary of the
information in the full announcement and therefore does not contain full or complete details. Any investment decision
by investors and/or shareholders should be based on consideration of the full announcement, The full announcement is
available for inspection at the Company's offices on workdays during business hours (at no charge) or on request from
the company secretary by e-mail:

The full announcement is available for viewing on the following websites:

Company's website:
JSE's website:

On behalf of the Board

J.A. Goldberg                                                        G.R. Hindle
Chief Executive Officer                                              Financial Director

26 October 2023
Questco Corporate Advisory

Date: 26-10-2023 12:00:00
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