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KWV INVESTMENTS LIMITED - INTERIM PROFIT ANNOUNCEMENT AND DIVIDEND DECLARATION
FOR THE SIX MONTHS ENDED 31 DECEMBER 2003
KWV INVESTMENTS LIMITED
(Registration number: 1979/007263/06)
Share Code: KWV
ISIN number: ZAE000004016
("KWV Investments")
INTERIM PROFIT ANNOUNCEMENT AND DIVIDEND DECLARATION FOR THE SIX MONTHS ENDED 31
DECEMBER 2003
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 17 February 2004.
Accounting policies and comparative
Comparative figures have been restated in accordance with the interim results of
Distell which has changed its accounting policy in order to comply with the new
South African Statement of GAAP dealing with "Agriculture" (AC 137).
Declaration of interim dividend
The directors have resolved to declare an interim dividend of 64,262 cents per
share.
Last day to trade "cum" dividend Friday 5 March 2004
Trading "ex" dividend commences Monday 8 March 2004
Record date Friday 12 March 2004
Dividend payment date Monday 15 March 2004
Share certificates may not be dematerialised or rematerialised between Monday 8
March 2004 and Friday 12 March 2004, both days inclusive.
Interim financial report
The interim financial report was approved by the directors on 17 February 2004
and will be posted to shareholders before the end of March 2004.
Signed on behalf of the board of directors
D de Wet
Chairman
W J Barnard
Director
Paarl
18 February 2004
Unaudited Audited
Six months
ended
31 December
Year
ended
30 June
2003 2002 2003
R"000 R"000 R"000
Restated Restated
Interest received 13 17 30
Administrative expenses (333) (283) (615)
Income from associate 66 434 64 264 93 739
- dividends received 20 536 20 536 44 006
- share of retained earnings 45 898 43 728 49 733
Profit before taxation 66 114 63 998 93 154
Taxation (4) (5) (9)
Net profit attributable to
ordinary shareholders 66 110 63 993 93 145
Share in adjustments (net of
taxation) of associate (203) (2827) (17415)
Headline earnings 65 907 61 166 75 730
Ordinary shares
issued (thousands) 42 000 42 000 42 000
Cents Cents Cents
Earnings per share
- attributable earnings 157,4 152,4 221,8
- headline earnings 156,9 145,7 180,3
Dividends declared per share 64,262 55,880 103,380
- interim 64,262 55,880 55,880
- final - - 47,500
KWV Investments Limited is a subsidiary of KWV Limited
Sponsor: PSG Capital Limited
Date: 17/02/2004 05:16:04 PM Produced by the JSE SENS Department
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