declaration for the six months ended 31 December 2001
KWV Investments Limited
(Reg No 1979/007263/06)
JSE share code: KWV ISIN number: ZAE000004016
Interim profit announcement and dividend declaration for the six months
ended 31 December 2001
Unaudited Audited
Six months Year
Ended ended
31 December 30 June
2001 2000 2001
R'000 R'000 R'000
Dividend from associate 24 056 7 041 7 041
Administrative expenses (218) (213) (603)
Interest received 6 12 30
Equity accounted earnings 62 510 51 154 74 410
Profit before exceptional items 86 354 57 994 80 878
Exceptional items of associate (17 112) (15 295) (43 681)
Profit before taxation 69 242 42 699 37 197
Taxation (17 817) (6 792) (3 267)
Profit after taxation 51 425 35 907 33 930
Minority interest (40) (4) (84)
Net profit attributable to
ordinary shareholders 51 385 35 903 33 846
Adjusted for exceptional items
(net of taxation) 11 816 9 813 28 730
Headline earnings 63 201 45 716 62 576
Ordinary shares
issued (thousands) 42 000 42 000 42 000
Cents Cents Cents
Earnings per share
- attributable earnings 122,3 85,5 80,6
- headline earnings 150,5 108,8 149,0
Dividend per share 48,895 16,764 72,5
In accordance with GAAP AC 107 dividends received are accounted for as
income in the period in which it was declared. The dividend received in the
current six months is the company's interest in the final dividend of
Distell Group Limited (Distell) in respect of the financial year ended 30
June 2001.
Particulars of associate company
The main asset of the company is an effective interest of 30% in the issued
share capital of 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 interim dividend
The directors have resolved to declare an interim dividend of 48,895 cents
per share.
Last day to trade cum dividend Friday 8 March 2002
Trading ex dividend commences Monday 11 March 2002
Record date Friday 15 March 2002
Dividend payment date Monday 18 March 2002
Share certificates may not be dematerialised or rematerialised between
Monday 4 March 2002 and Friday 15 March 2002, both days inclusive.
interim financial report
The interim financial report of the company will be posted to shareholders
before the end of March 2002.
Signed on behalf of the board of directors
L N Jonker W J Barnard
Chairman Director
Paarl
20 February 2002
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