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BELL EQUIPMENT LIMITED - Audited Results For The Year Ended 31 December 2023

Release Date: 28/03/2024 14:51
Code(s): BEL     PDF:  
Wrap Text
Audited Results For The Year Ended 31 December 2023

(Incorporated in the Republic of South Africa)
Share code: BEL
ISIN: ZAE000028304
Registration number 1968/013656/06
("Bell Equipment" or "the Company")



Bell Equipment is a Proudly South African and global company with more than 70 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 2023.
The auditor's report and the annual financial statements are available on the Company's website at

Any investment decisions by investors should be based on the audited annual financial statements and investors are encouraged to
review the audited annual financial statements, which is available for viewing on the Company's website (

Link to financial results

                                                                         2023                    2022           % change
                                                                        R'000                   R'000
Revenue                                                            13 513 560              10 276 220                 32
Profit from operating activities                                    1 193 711	              705 188                 69
Profit for the year                                                   793 566                 478 851                 66
Net cash (outflow) inflow for the year                               (437 474)                 14 239             (3 172)
Earnings per share (basic)(cents)                                         799                     478                 67
Headline earnings per share (basic)(cents)                                798                     473                 69
Net asset value per share (cents)                                       5 527                   4 565                 21
Dividend per share (cents)                                                  -                      90               (100)

Over the last two financial years we gained pleasing traction in realising our planned growth, and we will continue along this path.
By its nature, growth in our business requires significant working capital investments in inventory and receivables. With this in mind, 
coupled with a reflection on current volatile global political and economic uncertainties, the Board has resolved to preserve cash 
resources rather than paying a dividend at this time. This will be reviewed at the interim results stage.

A shareholders presentation is available on the Company's website.

On behalf of the board

Gary Bell					Ashley Bell
Chairman					Chief Executive

Richards Bay
28 March 2024

GW Bell (Chairman), HR van der Merwe* (Lead Independent),
DH Lawrance*, ME Ramathe*, R Naidu*, U Maharaj*, M Geyer*

AJ Bell** (Group Chief Executive), A Goordeen (Alternate),
KJ van Haght (Group Finance Director)
** AJ Bell was appointed as Group Chief Executive with effect from 1 January 2024.
L Goosen resigned as Group Chief Executive with effect from 31 December 2023.

Company Secretary
D McIlrath

Registered Office
13 - 19 Carbonode Cell Road, Alton, Richards Bay, 3900

Transfer Secretaries
JSE Investor Services Proprietary Limited
One Exchange Square, Gwen Lane, Sandown, Sandton, 2196

Investec Bank Limited
100 Grayston Drive, Sandown, Sandton, 2196

Deloitte & Touche

Date: 28-03-2024 02:51:00
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