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Listed Company Financial News
 
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.
 
Long4Life Ltd.  click here for the company's news page
Long4Life final results February 2018 Wednesday 9 May 2018
 
The group changed year end and this represents the maiden final results for February 2018, therefore there are no comparatives.The group's revenue for the period ended 28 February 2018, generated from the acquired assets for a four-month period, amounted to R730.66 million. Operating profit generated totalled R117.04 million, while interest earned on cash balances, which totalled R1.7 billion at the end of the period, amounted to R128.48 million. Basic earnings attributable to shareholders of the Company amounted to R168.95 million with headline earnings at R170.39 million. Based on 564 066 872 weighted average number of outstanding shares in issue, this translated into basic earnings and headline earnings of 30.0 cents and 30.2 cents, respectively

Dividend
The board has declared a maiden dividend gross of 5.40 cents per ordinary share in respect of the period ended 28 February 2018. The dividend is based on earnings from the group's businesses for the four months since acquisition, net of acquisition and corporate costs incurred for the full eleven months to 28 February 2018.

Company prospects
As the South African economy transforms further under its new political leadership, and even though the full extent and benefit of these changes is still to materialise, Long4Life is ideally positioned to take advantage of the opportunities that will result. This relates not only to the current portfolio of assets that have the capability of expansion and an ability to enhance efficiencies to adapt to current market circumstances, but also to pursue other value enhancing businesses. The executive team's entrepreneurial flair, the Company's balance sheet strength, access to an appropriate transactional pipeline as well as a wide spectrum of investors, are all catalysts for its ongoing yet diligent assessment of organic and acquisitive possibilities. The Company's overriding objectives continue to be expansion at a pragmatic rate and delivering above-average growth. This will be achieved by ensuring quality operating earnings from strong cash generating businesses and acquisitions with appropriately assessed risk characteristics.
 
Efficient Group Ltd.  click here for the company's news page
Efficient interim results February 2018 Thursday 26 April 2018
 
Revenue for the interim period rose by 18% to R548.5 million (2017: R465 million). Operating profit increased by 7% to R25.8 million (2017: R24.2 million). Profit for the period attributable to equity holders of the parent was 10% higher at R20.1 million (2017: R18.3 million). Furthermore, headline earnings per share grew 5% to 21.15 cents per share (2017: 20.22 cents per share).

Dividend
Dividends are declared at the discretion of the board after taking the financial position of the company into consideration. As a guideline, 80% of free cash flow is paid as a dividend. Based on this policy the directors determined that a dividend of 2.00000 cents per share will be paid to shareholders. A dividend of 1.63000 cents per share was paid for the comparative period.
 
PSG Group Ltd.  click here for the company's news page
PSG final results February 2018 Tuesday 24 April 2018
 
Revenue from sale of goods lowered to R14.0 billion (R14.4 billion) whilst gross profit sale of goods remained unchanged to R2.0 billion (R2.0 billion). Profit attributable to owners decreased to R1.9 billion (R2.2 billion). Furthermore, headline earnings per share dipped 9% to 9.08 cents per share (10.01 cents per share).

Dividends
Ordinary shares
PSG’s policy remains to pay up to 100% of available free cash flow as an ordinary dividend, of which approximately one third is payable as an interim and the balance as a final dividend at year-end. The directors have resolved to declare a final gross dividend of 277 cents (250 cents) per share from income reserves for a total gross dividend of 415 cents (375 cents) per share in respect of the year ended 28 February 2018.

Preference shares
The directors of PSG Financial Services declared a gross dividend of 423.56 cents per share in respect of the cumulative, non-redeemable, non-participating preference shares for the six months ended 28 February 2018, which was paid on Monday, 26 March 2018. The detailed announcement in respect hereof was disseminated on the JSE’s Stock Exchange News Service.

Company prospects
Although Zeder, in particular, experienced a challenging year, we believe PSG’s investment portfolio is well positioned to continue yielding above-average returns.
 
Purple Group Ltd.  click here for the company's news page
Purple interim results February 2018 Friday 20 April 2018
 
Revenue for the interim period lowered by 8% to R34.3 million (R37.4 million) whilst net loss dropped 13% to R17.0 million (loss of R15.1 million). Loss attributable to owners dived 65% to R16.8 million (loss of R48.2 million). Furthermore, headline loss per share widened by 66% to 1.89cps (loss of 5.52cps).
 
PSG Konsult Ltd.  click here for the company's news page
PSG Konsult final results February 2018 Thursday 19 April 2018
 
Total income for the year increased to R4.204 billion (2017: R3.843 billion), profit for the year attributable to owners of the parent rose to R566.5 million (2017: R486.9 million), while headline earnings per share grew to 43 cents per share (2017: 37.2 cents per share).

Dividend
Given the company's increased confidence in business prospects and an improved economic outlook, the board decided to approve and declare a final gross dividend of 12.3 cents per share for the 2018 financial year (2017: 10.2 cents per share), representing a 21% increase from the previous financial year, from income reserves. This brings the full year increase in the total dividend to 18%, which for the first time in several years is more than our per share earnings growth for the full year. The group's dividend payout ratio nevertheless remains at the low end of the dividend payout policy range announced at the time of listing.

Looking forward
The recent political party leadership changes that led to a strengthening of the rand have improved the mood of South Africans, resulting in clients being more optimistic and confident about their future financial well-being.

The group's aim remains to service existing clients in an integrated manner that is seamless and market-leading, as well as to gain new clients. Several initiatives are in place to ensure this happens. The group's focus on products, platforms and client service excellence, through the quality of its advice process, works. As such, the prospects for continued growth are compelling.

The cash-generative nature of the business gives PSG Konsult several options of funding business growth initiatives which are, ultimately, aimed at enhancing our overall client experience.

The group will continue to prioritise organic growth in the domestic market, where we have relatively low but rapidly expanding market shares. The group's capital position adequately takes into account our current growth plans.
 
Zeder Investments Ltd.  click here for the company's news page
Zeder final results February 2018 Tuesday 17 April 2018
 
Revenue decreased to R8.5 billion (2017: R10.2 billion). Gross profit lowered to R1.5 billion (2017: R1.7 billion). Total income increased to R433 million (2017: R313 million). Profit attributable to owners turned around to R254 million (2017: loss of R796 million). Furthermore, headline earnings per share recovered to 24.8 cents per share (2017: headline loss of 47.5 cents per share).

Dividend
The directors have resolved to declare a gross final dividend of 11.0 cents (2017: 11.0 cents) per share from income reserves in respect of the year ended 28 February 2018. The final dividend amount, net of South African dividend tax of 20%, is 8.8 cents per share for those shareholders who are not exempt from dividend tax.

Company prospects
Zeder remains actively involved with its underlying portfolio of companies and continuously seeks new investment opportunities. We believe that, despite inevitable cyclicality, investing in the agribusiness industry should offer attractive long-term returns and the strength of our companies and management teams, combined with a defensive portfolio mix, should contribute to the continued sustainability of results. We believe that the company and its shareholders will benefit from same.
 
Capitec Bank Holdings Ltd.  click here for the company's news page
Capitec final results February 2018 Tuesday 27 March 2018
 
Lending, investment and insurance income for the year increased to R17.3 billion (2017: R16.1 billion), net income jumped to R12.5 billion (2017: R10.7 billion), profit for the year climbed to R4.5 billion (2017: R3.8 billion), while headline earnings per share grew by 18% to 3 858 cents per share (2017: 3 281 cents per share).

Dividend
The directors declared a final gross dividend of 945 cents per share on 26 March 2018, bringing the total dividends for the 2018 financial year to 1 470 cents per share.

Company prospects
Sustained focus on our fundamentals will keep us on course to become the best retail bank in the world.
 
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