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  Home - Listed Company Financial News
Listed Company Financial News
 
Quilter plc  click here for the company's news page
Quilter interim results June 2018 Wednesday 8 August 2018
 
The following results are the company's maiden interim results and are therefore incomparable. Total revenue for the period was GBP857 million whilst profit for the period attributable to equity holders was GBP342 million. In addition, headline earnings per share were GBP2.8 pence per share.

Special interim dividend
In line with statements given at the time of the company's listing, there is no routine interim dividend in relation to the first half of 2018. However, the board has declared a special interim dividend of GBP12.0 pence per share from the surplus proceeds from the sale of the Single Strategy business. The special interim dividend will be paid on 21 September 2018 to shareholders on the UK and South African share registers on 24 August 2018.

Company outlook
As highlighted at our Capital Markets Showcase event earlier this year, our near-term agenda is focussed on three key priorities:

First, we need to successfully implement our new platform and execute a smooth migration for existing customers.

Second, we will continue to invest in growth by recruiting and building our Adviser and Investment Manager base.

Third, we need to ensure that we optimise our business so that we deliver increased operating leverage, and I look forward to updating the market on our plans with our full year results in March 2019.

These are all on track and we remain confident in our strategic path and the growth prospects that we set out in our prospectus ahead of listing. We are very much where we expected to be at this stage on the Quilter journey. While short-term market fluctuations and Brexit induced uncertainty may exacerbate market volatility or temper momentum in near-term flows, we operate in a large and fragmented market that has plenty of growth potential. We are a young company with a 250 year heritage and we're just getting started.
 
Nedbank Group Ltd.  click here for the company's news page
Nedbank interim results June 2018 Tuesday 7 August 2018
 
Net interest income went up 3.4% to R14.0 billion (R13.5 billion) whilst profit from operations was 3.8% higher at R9.1 billion (R8.8 billion). Profit attributable to ordinary shareholders jumped 27.0% to R6.7 billion (R5.2 billion). In addition, headline earnings per share jumped 26.3% to 1 387 cents per share (1 098 cents per share).

Interim dividend declaration
Notice is hereby given that an interim dividend of 695 cents per ordinary share has been declared, payable to shareholders for the six months ended 30 June 2018. The dividend has been declared out of income reserves.

Economic and regulatory outlook
The International Monetary Fund expects global economic growth to accelerate to 3.9% in 2018 from 3.7% in 2017, with advanced countries forecast to grow by 2.5% and emerging and developing economies by 4.9%. Growth in sub-Saharan Africa is expected to accelerate to 3.3% in 2018 from 2.9% in 2017.

Given SA's poor economic performance in early 2018, Nedbank Group's current forecast for GDP growth in 2018 is 1.0%, down from 1.3% in 2017. GDP growth thereafter is forecast to increase to 1.8% and 2.2% in 2019 and 2020 respectively. Although inflation is forecast to remain within SARB's inflation target range, it is likely to drift higher during the rest of the year and into 2019. The upward pressure on inflation is expected to emanate from higher food, fuel and electricity prices, as well as a moderately weaker rand. The rand is forecast to be volatile as global risk appetite softens on growing concerns over world growth prospects in light of rising protectionism and the normalisation of monetary policy in most developed countries. As a result, domestic interest rates are forecast to remain unchanged for the remainder of the year, but the risk to the interest rate outlook has shifted to the upside.

Consumer spending is likely to remain firm, supporting moderate growth in household credit demand. Faster growth appears unlikely given that household finances are likely to be hurt by slower wage growth and higher living costs. Corporate credit demand will remain subdued, but should improve modestly off a low base. Continued global growth and rising commodity prices could eventually translate into cyclical recoveries in SA's major export-orientated industries. Some revival is also expected in renewable-energy projects, but persistent policy uncertainty, particularly around property expropriation without compensation, the Mining Charter and the challenging domestic operating environment, will probably delay a more broad-based recovery in fixed investment.

Government spending should be kept in check by the need to reduce the budget deficit and contain the rise in government debt to avoid a further sovereign-ratings downgrade. Progress with tackling strategic, structural and financial problems at many state-owned enterprises – and Eskom in particular – is essential to lift economic growth.

Overall economic conditions in SA should improve off a low base over the next three years. Despite the many challenges faced by the SA economy, the SA banking system remains sound, liquid and well capitalised.

Company prospects
On the back of the group's strong performance in H1 2018 and developments in the environment, we have updated our guidance on financial performance currently expected for the full year 2018 as follows:
  • Average interest-earning banking assets to grow below nominal GDP (previously: in line with nominal GDP).
  • NIM to be slightly above the 2017 level of 3.62% (unchanged).
  • CLR to increase, but remain below the bottom of our target range of 60 to 100 bps (under IFRS 9) (previously: increase into the bottom half of our target range).
  • NIR to grow above mid-single digits (unchanged).
  • Associate income to be positive (ETI associate income reported quarterly in arrear) (unchanged).
  • Expenses to increase below mid-single digits (previously: increase by mid-single digits).

Given the strong financial performance in the first half of 2018, together with expectations of a slowly improving economic outlook and ongoing delivery on our strategy, our guidance for growth in DHEPS for 2018 remains unchanged, being in line with our medium-to-long-term target of greater than or equal to GDP plus CPI plus 5%.

The outlook for our medium-to-long-term targets in 2018 is as follows, and we remind investors that we have set ourselves specific 2020 targets of ROE (excluding goodwill) of greater than or equal to 18% and cost to income of lower than or equal to 53% as a pathway to ongoing and sustainable improvements in the key metrics that support shareholder value creation.
 
Absa Group Ltd.  click here for the company's news page
Absa Group interim result June 2018 Monday 6 August 2018
 
Net interest income for the interim period grew to R21.4 billion (R20.8 billion) whilst operating income before operating expenditure increased to R34.2 billion (R32.6 billion). Profit attributable to ordinary equity holders lowered to R7.3 billion (R7.4 billion). Furthermore, headline earnings per share decreased to 880.3 cents per share (917.5 cents per share ).

Declaration of interim dividend number 64
Shareholders are advised that an interim ordinary dividend of 490 cents per ordinary share was declared on 6 August 2018, for the period ended 30 June 2018. The interim ordinary dividend is payable to shareholders recorded in the register of members of the company at the close of business on 14 September 2018. The directors of Absa Group Ltd. have applied the solvency and liquidity test and reasonably concluded that the Group will satisfy the solvency and liquidity test immediately after completion of the dividend distribution.

Company prospects
In South Africa growth prospects remain challenging given subdued business confidence and headwinds to household spending. We forecast real GDP growth of 1.2% this year and 2.0% next year. Fiscal policy remains a challenge as recent tax increases might not be enough to deliver the much needed consolidation. We expect the Reserve Bank to leave interest rates unchanged for some time.

We forecast real GDP growth of 6% in our Rest of Africa portfolio, although monetary policy easing may have bottomed. At current levels, the rand would dampen our earnings less in the second half than it did in the first half.

Based on these assumptions, and excluding any unforeseen major political, macroeconomic or regulatory developments, our guidance for 2018 is largely unchanged. We expect our loan and deposit growth to improve in 2018, with stronger loan growth in Rest of Africa, CIB and Retail South Africa. Our net interest margin is likely to decline slightly this year. Costs will remain well controlled and our operating JAWS should improve from last year's but is unlikely to be positive. We expect our credit loss ratio to improve in 2018. Our CET1 ratio is expected to remain above board targets, which will allow us to maintain our current dividend cover. Lastly, our normalised RoE should improve slightly in 2018.
 
JSE Ltd.  click here for the company's news page
JSE interim results June 2018 Thursday 2 August 2018
 
Revenue for the year rose to R1.2 billion (R1.1 billion) whilst profit from operating activities jumped to R581.9 million (R452.9 million). Profit for the period shot up to R560.7 million (R419.4 million). Furthermore, headline earnings per share strengthened to 654.6cps (488.9cps).

Company prospects
We are clear about our 2018 priorities and hence what we need to do to deliver a better service to our clients and to grow this business sustainably. The JSE is a largely fixed-cost business. Therefore we will maintain our focus on costs, while making the necessary capital investments in areas that will enhance the Group's service offering and sustainability.

Our revenues are variable and largely driven by activity on the various markets that we operate. For this reason, the board makes no projections regarding the Group's financial performance in 2018.
 
Liberty Holdings Ltd.  click here for the company's news page
Lib-Hold interim results June 2018 Thursday 2 August 2018
 
Net insurance premiums for the interim period came in at R17.367 billion (2017: R18.469 billion), total income was lower at R27.425 billion (2017: R35.786 billion), total earnings attributable to shareholders' equity decreased to R1.522 billion (2017: R1.541 billion), while headline earnings per share was 563.5 cents per share (2017: 568.5 cents per share).

Dividends - 2018 interim dividend
In line with the group's interim dividend policy of paying 40% of the prior full year dividend, the board has approved and declared a gross interim dividend of 276 cents per share.

Company prospects
The planned enhancements to Liberty's organisational design will ensure focus on our customers and advisers.

Management's focus in the medium term will remain on restoring the financial performance of the SA Retail insurance business, improving the investment performance of STANLIB, simplifying the group's overall operations and expanding our relationship with the Standard Bank Group.

We expect that the economic and operating environment will remain subdued for the remainder of the year, suggesting that pressure on sales volumes could continue in the short term.

We however remain confident that the group is on track to emerge from this period of change with significantly greater potential to create value for all stakeholders.
 
Ecsponent Ltd.  click here for the company's news page
Ecsponent final results March 2018 Friday 29 June 2018
 
Due to the change in the financial year-end, the second current interim period comprises the twelve months ended 31 March 2018, while the comparative previous period is for the fifteen months ended 31 March 2017. For this reason there are no comparatives. Revenue was R379.5 million, gross profit was recorded at R315.8 million and operating profit came to R240.2 million. Total comprehensive income attributable to ordinary shareholders was R17.9 million. In addition, headline earnings per share was 0.12623 cents per share.

Dividends
No ordinary dividends have been declared or proposed for the year.

Company prospects
Key elements of the Group's on-going growth strategy are:
- the continued focus on core businesses;
- the continued investment in the Group's credit operations;
- increased emphasis on high yield equity opportunities and sector diversification
- obtaining rand-based and foreign currency institutional funding; and
- aggressive cost rationalisation/reduction.

The abovementioned approach is aimed at the continued development of a robust and complementary financial services Group which continues to provide sustainable returns.
 
Trustco Group Holdings Ltd.  click here for the company's news page
Trustco final results March 2018 Friday 29 June 2018
 
Revenue for the year fell to NAD800.9 million (2017: NAD1.248 billion), gross profit decreased to NAD526.7 million (2017: NAD1.038 billion), profit attributable to owners of the company dropped to NAD178.8 million (2017: NAD530 million), while headline earnings per share weakened to NAD27.19 cps (2017: NAD70.75 cps).

Dividend
During the year under review, the board recommended that no dividend be declared for the financial period ended 31 March 2018.

Changes to the board
Mr J Mahlangu, an independent non-executive director, resigned on 22 April 2018. On 26 April 2018, Prof LJ Weldon and Ms KN van Niekerk were appointed as independent non-executive directors.
 
African Phoenix Investments Ltd.  click here for the company's news page
Phoenix interim results March 2018 Wednesday 27 June 2018
 
Income from operations grew to R110.3 million (R103.1 million) whilst profit for the period took a knock to R20.6 million (R59.0 million). In addition, headline earnings per share from continued operations slumped to 1.4cps (4.8cps).

Dividend
No ordinary or preference dividends were declared in the current period (2017: Rnil).

Company strategic outlook
As a publicly listed investment holding company, Phoenix’s primary aim is to create and sustain long- term value as measured by consistent growth in net asset value, before distributions to shareholders.

Accordingly, the Board has chosen to position Phoenix as an investment holding company, managed primarily by black South Africans who have a proven track record of deploying capital in a manner that generates long term economic value.

It is the company’s intention to reach its long-term goal by owning meaningful equity interests in a range of diverse businesses that have either a proven track record or a proven business concept. These businesses should demonstrably generate or be able to generate cash and should earn acceptable returns in relation to the initial capital invested.

While Phoenix is a listed company, it is able to benefit from the advantages of operating as a private equity investor without the limitations of a typical private equity structure, which usually demands an exit from investee companies within a defined period. Investments are selected with a long-term view in mind and the intention is that they will be maintained for as long as they continue to meet the company’s investment criteria. Conversely, investments will be disposed of should they fall short of these criteria.

The performance of deployed capital is actively assessed against the investment criteria on an ongoing basis to make sure that Phoenix meets its long-term objective of growing the company’s net asset value by more than the cost of capital at portfolio level. Phoenix will continue to use its strong balance sheet to take advantage of appropriate investment opportunities and to build shareholder value.

At subsidiary level, Stangen will continue to strengthen its distribution network and to actively seek out synergies that will enable it to secure its long-term sustainability.
 
Brait SE  click here for the company's news page
Brait final results March 2018 Tuesday 19 June 2018
 
Loss for the year narrowed to EUR667 million (EUR1.0 billion). Furthermore, headline loss per share improved to EUR141cps (headline loss per share of EUR212cps).

Ordinary dividend policy
The Group's policy is to consider annually an ordinary bonus share issue or cash dividend alternative election of 1% to 2.5% of closing NAV, taking into account the Group's available cash resources and debt utilization.

For the current period, no dividend has been declared as the Board has resolved to reduce debt at the Brait level.

Group outlook
  • Virgin Active produced a strong set of results for its financial year ended 31 December 2017. The first quarter of 2018 has seen an encouraging increase in membership in both South Africa and the UK reflected in strong revenue growth in constant currency terms across the group. Growth in new clubs for 2018 is focused on Italy and Asia Pacific. The group continues to invest in its digital proposition, product innovation and pursuing Group Exercise and Personal Training across all territories in order to drive targeted EBITDA growth.
  • Despite a weak domestic economy, Premier will target profitable growth by focusing in the short term on margin management across all businesses and seeking further cost savings and efficiencies. Premier will continue with its plans to optimize its bakery manufacturing footprint to align capacity to market demand with a focus on bringing its inland bakeries to the standard of Premier's upgraded coastal bakeries in KwaZulu Natal, the Western Cape and the Eastern Cape. Pursuant to its growth strategy, Premier will seek value enhancing acquisitions to assist in entering new categories and/or geographies and, without compromising its growth ambitions, continue repaying the shareholder funding provided by Brait.
  • Iceland's group sales continue to grow in FY2019, driven by the expansion of the store estate where it aims to open a total of 30 new Food Warehouse stores during the current year. The company's programme of major Iceland store refits in the UK, with 8 completed quarter to date (and more to come), continues to drive LFL sales growth in these stores. However, overall LFL sales in the quarter to date are negative, against the very strong comparative of 6.4% growth in the first quarter last year, with a positive underlying performance adversely impacted by Easter falling earlier than in 2017. The overall UK food retail market has also slowed in this period, with Iceland's performance only slightly behind the market as measured by the Institute of Grocery Distribution (IGD). Iceland maintains a strong programme of product innovation and the quality of its own label food continues to receive industry and public recognition. Iceland has a strong brand, unique products, excellent product innovation, a stable capital structure and a proven strong cash generating capability which underpins its ability to deliver profitable growth over the long term.
  • Since November 2017, New Look has focused on making the necessary changes to get the company back on track and reconnect with its customers. New Look's turnaround plan is now well underway and has already made substantial operational improvements to help stabilise the business, reduce its fixed cost base and attain a better position to drive full price sales. New Look has started its new financial year with a significantly cleaner stock position. The company's liquidity position continues to improve and early Q1 trading indicates improvements in specific womenswear categories where initial attention has been focused. Importantly, the New Look brand remains strong and has recently regained its number 1 position in its core target market, namely for ages 18 – 42 within the UK womenswear market.

In conclusion, Brait believes that driving value in the existing portfolio should remain the key focus for the year ahead.
 
Peregrine Holdings Ltd.  click here for the company's news page
Peregrine final results March 2018 Wednesday 13 June 2018
 
Total revenue for the year increased 3% to R2.6 billion (R2.5 billion) and profit from operations decreased by 7% to R624.2 million (R670.6 million). Profit for the year attributable to equity holders rose by 2% to R513.2 million (R501.9 million). In addition, headline earnings per share increased by 4% to 238.5 cents per share (230 cents per share).

Dividend
The directors have resolved to declare an ordinary cash dividend of 170 cents per share for the year ended 31 March 2018, which is 10% higher than that of last year's ordinary dividend of 155 cents per share.

Outlook
The 12 months ended 31 March 2018 was a reasonable year for markets despite the significant political uncertainty during the period, both locally and internationally. Whilst geopolitical headlines did not seem to dramatically disrupt global equity markets, locally the Group felt the impact of volatility in local equity markets and the strengthening of the Rand against the US Dollar and GB Pound. Whilst the election of Mr Ramaphosa was a welcome outcome for the country, the impact of "Ramaphoria" has not yet translated into an economic resurgence, as was evident in the contraction in GDP in the first quarter of 2018. Within the context of this environment, the Group performed well and delivered solid results.

As a result of the unbundling of the Group's surplus non-operating assets during the period under review, for ease of comparability, the Group's results for the 12 months ended 31 March 2018 have been presented in such a way so as to separate earnings from the Group's operating businesses from earnings that arose from the Group's surplus non-operating assets. The main operating businesses in the Group, namely Citadel, Stenham, Peregrine Capital, Peregrine Securities and Java Capital, delivered an increase in earnings of 7% to R470 million. There was strong growth in annuity earnings from Citadel and increased performance fees from Citadel, Peregrine Capital and Stenham Asset Management, countered by a reduction in earnings from Peregrine Securities where revenues were lower primarily as a result of a reduction in higher margin revenue from retail and hedge fund clients. Similarly, Java Capital produced lower earnings primarily as a result of a weaker environment in both general corporate finance and in capital raising (particularly property markets) during the latter part of the financial year.

Across the operating businesses of the Group, annuity earnings grew by 6% to R362 million and accounted for 77% (2017: 78%) of the aggregate earnings of the operating businesses. Variable and performance fee earnings increased by 9% to R108 million, in the main due to higher performance fees earned across the Group, partially offset by lower variable earnings in Peregrine Securities. Almost every business in the Group benefits from a weaker Rand with 42% (33% at the interim reporting stage) of the Group's operating earnings emanating directly from offshore entities in the period under review. It is unsurprising that the strengthening of the Rand against the GB Pound and the US Dollar in the financial year under review had a meaningful yet negative impact on the Group's translated earnings. Adjusting for the impact of this strengthening, headline earnings at an attributable operating level would have grown by 13%. Included in the results for the last time are earnings from proprietary investments which increased by 11% to R65 million. As previously communicated to investors, in order to remove the unpredictable and volatile returns associated with these investments, the decision was made to unbundle these investments effective 2 October 2017 (discussed in more detail later on in this announcement). The Group continues to implement its strategy of reinforcing its offering as a highly cash generative, low capital intensive, high return on equity business.
 
Alexander Forbes Group Holdings Ltd.  click here for the company's news page
AForbes final results March 2018 Monday 11 June 2018
 
Fee and commission income for the year grew to R4.1 billion (R4.0 billion) whilst operating profit lowered to R510 million (R800 million). Profit attributable to owners dropped to R240 million (R1.5 billion). In addition, headline earnings per share decreased to 44.4 cents per share (53.4 cents per share).

Dividend
The directors have declared a final gross cash dividend of 24 cents (19.2 cents net of dividend withholding tax) per ordinary share for the year ended 31 March 2018.

Company prospects
Looking ahead, we anticipate the economic and political backdrop to remain challenging across our markets. That said, a ray of light in the past year in South Africa was the moderation of the inflation rate, the resultant reduction in the repo rate which should aid consumers, alongside significant political change with Cyril Ramaphosa appointed as President, with rising business and consumer sentiment.

We remain committed to the execution and delivery of our Ambition 2022 strategy and building a leading pan-African financial services leader, with strong franchises across retirements, health, investments, wealth management and insurance alongside a focus on innovative solutions to help our customers achieve better outcomes and a lifetime of financial well-being and security.

Our focus for the next financial year remains the same. Continued delivery of improvement in our cost-to-income ratio, improving our customer value proposition with the launch of new solutions, progressing with our technology and digital modernisation programme and addressing the issues to allow us to continue to improve returns to shareholders.

With our strong capital base, market-leading franchises and a business model intended to generate cash flows through the cycle, we see significant latent opportunity to continue to drive further organic and acquisitive growth. We believe Alexander Forbes remains well positioned to deliver improved profitability and shareholder value over time.
 
Finbond Group Ltd.  click here for the company's news page
Finbond final results February 2018 Wednesday 30 May 2018
 
Net interest income shot up 60% to R1.3 billion (R0.8 billion). Profit attributable to owners jumped 69% to R234.2 million (R138.7 million). Furthermore, headline earnings per share was 81% higher at 33.7 cents per share (18.6 cents per share).

Dividend
The Board has approved the declaration of a dividend from retained earnings of 9.91 cents per share (“Cash Dividend”). Shareholders will, however, be entitled to elect to receive a capitalisation share issue alternative (“the Capitalisation Issue Alternative”). If no election is made, the Cash Dividend will be paid.

The circular related to the Cash Dividend and Capitalisation Issue Alternative will be distributed to shareholders and the relevant dates will be announced on SENS, in due course.

Looking Ahead
We believe that the evolution from a short term Micro Finance Institution to a Bank in South Africa and our continued expansion into the North American Short Term Lending market in the implementation of our strategic action plan will ensure that we achieve good results in the medium to long term. Sustained focus on our core competencies will keep us on course to become the best short term instalment lender in the world.

There are still a number of challenges facing Finbond in the various markets that it operates in. However, we remain confident that we have the required resources and depth in management to overcome these challenges and remain optimistic about our prospects for the future due to Finbond’s: Improvements achieved in earnings and profitability despite difficult market conditions; Improvement achieved in cash generated from operating activities; Management expertise; Strong Cash Flow; Strong Liquidity and surplus cash position; Uniquely positioned 415 branch network in South Africa and 257 branches in North America; Superior Asset Quality; Access to funding; Conservative Risk Management and growth potential in the Micro Finance and Banking markets in the lower end of the market both in South Africa and North America.

We plan for a continued rise in revenue both in South Africa and in North America. Our business is in a development and growth phase and, as with all growing businesses, real risks remain.
 
Sygnia Ltd.  click here for the company's news page
Sygnia interim results March 2018 Friday 25 May 2018
 
Revenue for the interim period rose to R207.3 million (R147.5 million) whilst profit from operations grew to R64 million (R48.2 million). Total profit and other comprehensive income for the period also increased to R37 million (R34.3 million). Furthermore, headline earnings per share decreased to 25.34 cents per share (26.23 cents per share).

Dividend
Sygnia is committed to rewarding its shareholders with regular distributions of free cash flow generated. Accounting for projected cash requirements, a gross dividend (No. 5) for the period ended 31 March 2018 of 25 cents per share has been declared out of retained income, resulting in a net dividend of 20 cents per share for shareholders subject to Dividends Tax (DT).

 
Hosken Consolidated Investments Ltd.  click here for the company's news page
HCI final results March 2018 Wednesday 23 May 2018
 
Revenue for the year was higher at R15.0 billion (R14.3 billion) whilst operating profit lowered to R4.9 billion (R5.2 billion). Profit attributable to equity holders dropped to R939.7 million (R1.2 billion). Furthermore, headline earnings per share from continuing operations improved to 1 388.88 cents per share (1357.29 cents per share).

Dividend
The directors of HCI have resolved to declare a final ordinary dividend number 57 of 190 cents (gross) per HCI share for the year ended 31 March 2018 from income reserves.
 
Deneb Investments Ltd.  click here for the company's news page
Deneb final results March 2018 Wednesday 23 May 2018
 
Revenue for the year from continuing operations jumped to R3.0 billion (R2.7 billion) whilst gross profit lowered to R685.7 million (R717.3 million). Operating profit before finance costs dropped to R108.9 million (R180.3 million). Profit attributable to owners tumbled to R8.1 million (R50.4 million). Furthermore, headline earnings per share from continuing operations were higher at 13.58 cents per share (9.8 cents per share).

Distribution
Notice is hereby given that a final distribution of 3 cents (gross) per ordinary share in respect of the 12 months ended 31 March 2018 has been declared and approved by the board of directors out of stated capital through the reduction of contributed tax capital ("distribution").
 
African Equity Empowerment Investments Ltd.  click here for the company's news page
AEEI interim results February 2018 Tuesday 22 May 2018
 
Revenue for the interim period increased to R604.4 million (2017: R454.9 million). Gross profit grew to R225.2 million (2017: R167 million). Total comprehensive income attributable to equity holders of the parent shot up to R8.4 billion (2017: R455.2 million). In addition, headline earnings per share lowered to 40.06 cents per share (2017: 92.71 cents per share).

Dividends
The board of directors announces that it has approved and declared an interim dividend of 3.30 cents per share for the six-month period ended 28 February 2018 from income reserves.

Company prospects
The Group will continue with its strategic focus to grow the value of our core operational investments and improve the value add to our strategic investments.

The AEEI Group has built a solid platform for further organic growth and has positioned itself well to further increase its investments by acquisitions.

Management is focused on its five-year strategic plan ("Vision 2020 Vision") and has firmed up its acquisition pipeline.

Management are excited about the potential for growth via an acquisition pipeline and are confident about the further announcements over the next 12 months.

The Group's auditors have not reviewed nor reported on any comments relating to future prospects.
 
Coronation Fund Managers Ltd.  click here for the company's news page
Coronation interim results March 2018 Tuesday 22 May 2018
 
Revenue for the interim period went up 7% to R2.1 billion (R1.9 billion) and results from operating activities was 2% higher at R1.03 billion (R1.0 billion). Profit attributable to equity holders increased by 2% to R782 million (R763 million). Furthermore, headline earnings per share rose 1% to 223.4 cents per share (220.7 cents per share).

Dividend
Coronation continue to reward shareholders through regular and significant distributions of free cash flow generated. The company endeavours to distribute at least 75% of after-tax cash profit. After assessing any projected future cash requirements, a gross dividend of 223.0 cents per share has been declared for the interim period ended 31 March 2018, resulting in a net dividend of 178.4 cents per share for shareholders subject to Dividends Tax (DT).

Company prospects
We are optimistic about the outlook for the South African economy following meaningful changes in the political leadership and certain key institutions. While we expect economic growth to improve, we remain mindful that this may take time. Addressing the country's long-term challenges will require hard work and patience.

As long-term valuation-driven investors, we are presented with significant opportunities in local and global markets and we expect our current positioning to have a positive impact on the long-term performance of our various strategies.

In pursuing our goal of providing world-class service to our clients, we continue to strengthen our business by investing in infrastructure, technology and people, thereby ensuring the delivery of sustainable long-term value for all stakeholders.
 
Investec Ltd.  click here for the company's news page
Investec Ltd. final results March 2018 Thursday 17 May 2018
 
Net interest income for the year jumped to GBP760.4 million (GBP679.9 million) whilst operating profit was higher at GBP643.5 million (GBP637.4 million). Earnings attributable to shareholders shot up to GBP505.5 million (GBP442.5 million). In addition, headline earnings per share improved to GBP48.7 pence per share (GBP48.2 pence per share).

Ordinary share dividend announcement
Declaration of dividend number 125
Notice is hereby given final dividend number 125, being a gross dividend of ZAR232 cents (2017: ZAR225 cents) per ordinary share has been recommended by the board from income reserves in respect of the financial year ended 31 March 2018 payable to shareholders recorded in the shareholders' register of the company at the close of business on Friday, 27 July 2018.

Non-redeemable non-cumulative non-participating preference shares ("preference shares")
Declaration of dividend number 27
Notice is hereby given that preference dividend number 27 has been declared from income reserves for the period 01 October 2017 to 31 March 2018 amounting to a gross preference dividend of ZAR397.31947 cents per preference share payable to holders of the non-redeemable non- cumulative non-participating preference shares as recorded in the books of the company at the close of business on Friday, 08 June 2018.

Company outlook
The group has achieved a satisfactory operating performance, supported by sound growth in key earnings drivers, solid levels of client activity and a robust recurring income base.

Whilst the complexities of Brexit continue to cause uncertainty in the UK economy, the final quarter of the 2018 financial year has started to see an uplift in the South African economic outlook.

The group's continued investment in infrastructure, digital platforms and people means it is well positioned for future growth.

Investec remains committed to delivering shareholder value and has the right people and skills to take advantage of opportunities in its core markets, whilst providing exceptional service to our clients.
 
Investec plc  click here for the company's news page
Investec plc final results March 2018 Thursday 17 May 2018
 
Net interest income for the year jumped to GBP760.4 million (GBP679.9 million) whilst operating profit was higher at GBP643.5 million (GBP637.4 million). Earnings attributable to shareholders shot up to GBP505.5 million (GBP442.5 million). In addition, headline earnings per share improved to GBP48.7 pence per share (GBP48.2 pence per share).

Ordinary share dividend announcement
Declaration of dividend number 32
Notice is hereby given that the final dividend number 32, being a gross dividend of GBP13.5 pence (2017: GBP13 pence) per ordinary share has been recommended by the board from income reserves in respect of the financial year ended 31 March 2018 payable to shareholders recorded in the shareholders' register of the company at the close of business on Friday, 27 July 2018.

Non-redeemable non-cumulative non-participating preference shares ("preference shares")
Declaration of dividend number 24
Notice is hereby given that preference dividend number 24 has been declared from income reserves for the period 01 October 2017 to 31 March 2018 amounting to a gross preference dividend of GBP7.26027 pence per preference share payable to holders of the non-redeemable non- cumulative non-participating preference shares as recorded in the books of the company at the close of business on Friday, 08 June 2018.

Rand-denominated non-redeemable non-cumulative non- participating perpetual preference shares ("preference shares")
Declaration of dividend number 14 Notice is hereby given that preference dividend number 14 has been declared from income reserves for the period 01 October 2017 to 31 March 2018 amounting to a gross preference dividend of ZAR485.34589 cents per preference share payable to holders of the Rand-denominated non-redeemable non-cumulative non-participating perpetual preference shares as recorded in the books of the company at the close of business on Friday, 08 June 2018.

Company outlook
The group has achieved a satisfactory operating performance, supported by sound growth in key earnings drivers, solid levels of client activity and a robust recurring income base.

Whilst the complexities of Brexit continue to cause uncertainty in the UK economy, the final quarter of the 2018 financial year has started to see an uplift in the South African economic outlook.

The group's continued investment in infrastructure, digital platforms and people means it is well positioned for future growth.

Investec remains committed to delivering shareholder value and has the right people and skills to take advantage of opportunities in its core markets, whilst providing exceptional service to our clients.
 
Transaction Capital Ltd.  click here for the company's news page
Transcap interim results March 2018 Wednesday 16 May 2018
 
Net interest income grew to R553 million (2017: R464 million). Profit for the period attributable to ordinary equity holders of the parent increased to R310 million (2017: R232 million). Furthermore, headline earnings per share rose to 50.8 cents per share (2017: 39.5 cents per share).

Dividend
In line with the stated dividend policy of 2 to 2.5 times, the board has declared an interim gross cash dividend of 21 cents per share (2017: 15 cents per share) for the six months ended 31 March 2018.

Company prospects and strategy
Transaction Capital's strategy is to drive organic growth in each division through deep vertical integration within core and adjacent market segments. As SA Taxi and TCRS gain deeper insight into their respective sectors, underpinned by a maturing understanding of their social relevance, they continue to identify opportunities to create more value for all stakeholders.

Over the past few years SA Taxi and TCRS have adjusted to South Africa's challenging economic conditions, to become highly efficient. Although both divisions are defensively positioned, a sustained economic recovery will support their potential to outperform our current performance expectations.

The group's conservative approach to acquisitions focuses on acquiring and developing established platforms within core and adjacent market segments. With excess capital of over R650 million, the group has the flexibility for immediate cash settlement of any future acquisitions. Our growth expectations are based on the assumption that this excess capital is not deployed into earnings accretive acquisitions, so there may well be further upside potential over the medium term.

Robust organic growth together with the returns of the acquired businesses, position Transaction Capital to continue growing earnings and dividends in line with past periods and current interim performance.

Any forecast financial information has not been reviewed or reported on by the company's auditors.
 
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