TRANSPACO LIMITED Transpaco Limited
Registration number 1951/000799/06 ISIN: ZAE000007480
Share code: TPC
("Transpaco" or "the company")
Condensed Consolidated Interim Results for the Six months to 31 December 2021
- NET ASSET VALUE PER SHARE 2 432 CENTS
- HEADLINE EARNINGS PER SHARE up 39% to 218,8 CENTS
- DIVIDEND PER SHARE 60,0 CENTS
FINANCIAL RESULTS
Unaudited | ||||||||
Unaudited | six months | Unaudited | Audited | |||||
six months | December | six months | 12 months | |||||
December | 2021 | December | June | |||||
Continuing operations | 2021 | % change | 2020 | 2021 | ||||
Earnings per share (cents) | 227,4 | 43,8 | 158,2 | 337,4 | ||||
Diluted earnings per share (cents) | 227,4 | 43,8 | 158,2 | 337,4 | ||||
Headline earnings per share (cents) | 218,8 | 40,0 | 156,2 | 336,2 | ||||
Diluted headline earnings per share (cents) | 218,8 | 40,0 | 156,2 | 336,2 | ||||
Continuing and discontinued operations | ||||||||
Revenue | (R'000) | 1 | 204,2 | 10,1 | 1 | 093,3 | 2 | 078,9 |
Earnings per share (cents) | 227,4 | 42,5 | 159,6 | 337,4 | ||||
Diluted earnings per share (cents) | 227,4 | 42,5 | 159,6 | 337,4 | ||||
Headline earnings per share (cents) | 218,8 | 38,7 | 157,7 | 336,2 | ||||
Diluted headline earnings per share (cents) | 218,8 | 38,7 | 157,7 | 236,2 | ||||
Net asset value per share (cents) | 2 432,1 | 13,2 | 2 148,0 | 2 306,3 |
TOTAL OPERATIONS
Transpaco's results reflect a 38,7% increase in headline earnings per share (HEPS) to 218,8 cents per share for the period (December 2020: 157,7 cents). Although the July 2021 riots did not impact Transpaco directly, many of our customers were affected by store closures. This resulted in sales for July and August not reaching anticipated levels. Revenue increased by 10,1% to R1,20 billion (December 2020: R1,09 billion) with operating
profit up by 38,0% to R108,3 million (December 2020: R78,9 million).The group's expenses were contained at acceptable levels with gross profit margins well‐managed and controlled. The Plastics Division accounted for significant revenue growth, while the Paper and Board Division performed within expectations. Notably revenue in the first six months of the financial year is traditionally greater than that of the second six months due to the seasonal nature of the business.
DIVIDEND
The board has declared an interim gross cash dividend out of income reserves of 60,0 cents per share (December 2020: 43,0 cents per share) for the six‐month period ended 31 December 2021. After applying the dividend withholding tax of 20%, a net interim dividend of 48,0 cents per share will be paid to those shareholders who are not exempt from the dividends tax. The issued shares at the date of declaration is 31 499 388 ordinary shares. The Income Tax reference number is 9975/112/71/6.
The salient | dates for | the | dividend are | as follows: | |
Last date to | trade shares | cum dividend | Tuesday, 15 | March 2022 | |
Shares | trade | ex‐dividend | Wednesday, 16 | March 2022 | |
Record | date | Friday, 18 March 2022 | |||
Payment date | Tuesday, | 22 | March 2022 |
Share certificates may not be dematerialised or rematerialised between Wednesday, 16 March 2022 and Friday, 18 March 2022, both days inclusive.
ADMINISTRATIVE INFORMATION
This short‐form announcement is the responsibility of the directors and is only a summary of the information in the full announcement. The full announcement was released on SENS on 22 February 2022, and can be found on the company's website at www.transpaco.co.za and on the following JSE link: https://senspdf.jse.co.za/documents/2022/jse/isse/TPC/Interims.pdf
Any investment decision should be based on the full announcement published on SENS and on the company's website.
Copies of the full announcement may be requested from the Company Secretary at Hendrik@transpaco.co.za.
On | behalf of the board | ||
DJJ Thomas | PN Abelheim | L Weinberg | |
Non‐executive Chairman | Chief Executive Officer | Chief Financial Officer | |
22 | February 2022 |
DIRECTORS
DJJ Thomas (Chairman)*; PN Abelheim (Chief Executive); L Weinberg (Chief Financial Officer); HA Botha**; SR Bouzaglou; SP van der Linde (Lead Independent Director)**
* Non‐executive ** Independent non‐executive
Auditors: BDO South Africa Incorporated Company Secretary HJ van Niekerk
Sponsor: Investec Bank Limited
Registered office: 331 6th Street, Wynberg, Sandton Transfer secretaries Computershare Investor Services (Pty) Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg
Website: www.transpaco.co.za
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Disclaimer
Transpaco Limited published this content on 22 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 12:11:39 UTC.
