| Tue 21 Aug 2001, 0:00 | | Kwv Investments Limited - Profit Announcement And |
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KWV Investments limited
(Reg. No. 1979/007263/06)
Profit announcement and dividend declaration for the year ended 30 June 2001
The audited results of KWV Investments Limited for the year ended 30 June
2001 are as follows:
2001 2000 %
R'000 R'000 change
Profit before taxation 6 468 36 084 (82,1)
Taxation (8) (10)
Profit after taxation 6 460 36 074
Equity accounted earnings 27 800 43 520
Share of earnings of associate 63 571 69 474
Share of exceptional item of associate (28 730) 10 586
Less: Dividend received from associate (7 041) (36 540)
Net profit attributable to ordinary
Shareholders 34 260 79 594 (57,0)
Adjustment for headline earnings
Share in exceptional item of associate 28 730 (10 586)
Headline earnings 62 990 69 008 (8,7)
Ordinary shares issued (thousands) 42 000 42 000
Cents Cents
Earnings per share 81,6 189,5 (57,0)
Headline earnings per share 150,0 164,3 (8,7)
Headline earnings per share, excluding
equity accounted earnings 15,4 85,9 (82,1)
Dividend per share 72,5 86,0 (15,7)
- interim 16,764 29,0
- final 55,736 57,0
In accordance with the changed statement of GAAP (AC 107) the final dividend
declared by the company, as well as the final dividend received from Distell
Group Limited (R24 056,000), are not included in the results for the
financial year, as they were declared after the year-end. This should be
considered when comparing the financial results with those of the prior
year.
PARTICULARS OF ASSOCIATE COMPANY
The main asset of the company is an effective interest of 30% in the issued
share capital of Distell Group Limited (Distell). Each share of KWV
Investments Limited represents 1,397 issued shares in Distell. The dividend
income of KWV Investments Limited is sourced solely from this company.
Declaration of Final dividend
The directors have resolved to declare a final dividend of 55,736 cents per
share. Dividend payments will be posted or transmitted electronically to
shareholders.
Last day to trade cum-dividend Friday 7 September 2001
Trading ex-dividend commences Monday 10 September 2001
Record date Friday 14 September 2001
Dividend payment date Monday 17 September 2001
Annual Report
The annual report of the company will be posted to shareholders before the
end of September 2001.
Signed on behalf of the board of directors
L N Jonker Dr W J Barnard
Chairman Director
Paarl
23 August 2001
