| Wed 24 Aug 2005, 17:27 | | KWV - Profit announcement and dividend declaration |
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KWV - Profit announcement and dividend declaration for the year ended 30 June
2005
KWV Investments Limited
(Registration number 1979/007263/06)
JSE share code: KWV
ISIN number: ZAE000004016
Profit announcement and dividend declaration for the year ended
30 June 2005
The audited results of the group are as follows:
2005 2004 %
R`000 R`000 change
Income from associate 144 127 108 056 33,4
Dividends received 62 781 47 526
Share of retained earnings 81 346 60 530
Dilution of investment in associate - (1 697)
Interest received 113 20
Administrative expenses (713) (696)
Profit before taxation 143 527 105 683
Taxation (32) (6)
Net profit attributable to ordinary
shareholders 143 495 105 677 35,8
Headline earnings reconciliation
Net profit attributable to
ordinary shareholders 143 495 105 677
Adjusted for:
- After-tax interest in associate`s profit
on sale of fixed assets and amortisation
of goodwill (1) (587)
- Dilution of investment in associate - 1 697
Headline earnings 143 494 106 787 34,4
Ordinary shares issued (thousands) 42 000 42 000
Cents Cents
Earnings per share
- attributable earnings 341,7 251,6
- headline earnings 341,7 254,3
Dividend per share 170,396 133,812 27,3
- interim 77,896 64,262
- final (declared after year-end) 92,500 69,550
Accounting policy and comparative figures
The accounting policies have been amended in order to comply with various new
South African Statements of Generally Accepted Accounting Practice. However,
these new policies had no material impact on the financial results of the
company or its associate and comparative figures were not restated.
Particulars of associate company
The main asset of the company is an effective interest of 29,9% (2004: 29,9%) in
the issued share capital of Distell Group Limited (Distell). Each share in KWV
Investments Limited represents 1,391 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
results, published on 18 August 2005.
Declaration of dividend
The directors have resolved to declare a final dividend of 92,5 cents per share.
Last day to trade `cum` dividend Friday 9 September 2005
Trading `ex` dividend commences Monday 12 September 2005
Record date Friday 16 September 2005
Dividend payment date Monday 19 September 2005
Share certificates may not be dematerialised or rematerialised between Monday 12
September 2005 and Friday 16 September 2005, both days inclusive.
Financial statements and annual general meeting
The annual financial statements have been audited by PricewaterhouseCoopers Inc.
and their unqualified audit opinion is available for inspection at the company`s
registered office. The group`s annual report will be posted to shareholders
before the end of September 2005.
The annual general meeting of the company will be held on Wednesday 26 October
2005 in the Boardroom, KWV Head Office, Suider-Paarl, at 08:30.
Signed on behalf of the board of directors
D de Wet WJ Barnard
Chairman Chief executive officer
Paarl
23 August 2005
Directors: D de Wet, WJ Barnard, AS du Plessis, PBB Hugo
Company secretary: AW Eksteen
Registered office: La Concorde, 57 Main Street, Suider-Paarl, 7646
Transfer secretaries: Computershare Investor Services 2004 (Pty) Ltd,
PO Box 61051, Marshalltown, 2107
Sponsor: PSG Capital
KWV Investments Limited is a subsidiary of KWV Limited
Date: 24/08/2005 05:15:18 PM
Produced by the JSE SENS Department
