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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 2002
Unaudited Audited
Six months Year
ended ended
31 December 30 June
2002 2001 2002
R`000 R`000 R`000
Interest received 17 6 15
Administrative expenses (283) (218) (517)
Income from associate 64 188 51 599 70 945
- dividends received 20 536 24 056 44 592
- share of retained earnings 43 652 27 543 26 353
Profit before taxation 63 922 51 387 70 443
Taxation (5) (2) (4)
Net profit attributable to
ordinary shareholders 63 917 51 385 70 439
Adjusted (net of taxation) for
interest in associate`s
- profit on sale of fixed assets
and amortisation of goodwill (1 338) (736) (4 520)
- exceptional items (1 489) (623) (1 624)
Headline earnings 61 090 50 026 64 295
Ordinary shares
issued (thousands) 42 000 42 000 42 000
Cents Cents Cents
Earnings per share
- attributable earnings 152,2 122,3 167,7
- headline earnings 145,5 119,1 153,1
Dividend per share 55,880 48,895 96,395
The accounting policy for the calculation of headline earnings was changed to
comply with Circular 7/2002 Headline Earnings as issued by the South African
Institute of Chartered Accountants. Comparative figures have been restated.
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.
For more comprehensive financial information readers are referred to Distell`s
interim results, published on 19 February 2003.
Declaration of interim dividend
The directors have resolved to declare an interim dividend of 55,880 cents per
share.
Last day to trade "cum" dividend Friday 7 March 2003
Trading "ex" dividend commences Monday 10 March 2003
Record date Friday 14 March 2003
Dividend payment date Monday 17 March 2003
Share certificates may not be dematerialised or rematerialised between Monday 10
March 2003 and Friday 14 March 2003, both days inclusive.
Interim financial report
The interim financial report of the company will be posted to shareholders
before the end of March 2003.
Signed on behalf of the board of directors
L N Jonker W J Barnard
Chairman Director
Paarl
19 February 2003
KWV Investments Limited is a subsidiary of KWV Limited
Date: 19/02/2003 05:00:00 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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