Wrap Text
Unaudited Condensed Interim Results for the six months to 31 December 2023 and Dividend Announcement
Transpaco Limited
Registration number 1951/000799/06
ISIN: ZAE000007480
JSE Share code: TPC
("Transpaco" or "the Company")
UNAUDITED CONDENSED INTERIM RESULTS FOR THE SIX MONTHS TO 31 DECEMBER 2023 AND
DIVIDEND ANNOUNCEMENT
- NET ASSET VALUE PER SHARE 3 090 CENTS
- HEADLINE EARNINGS PER SHARE DOWN 5,6% TO 299,1 CENTS
- DIVIDEND PER SHARE 80 CENTS
FINANCIAL RESULTS
Unaudited
Unaudited six months Unaudited Audited
six months December six months 12 months
December 2023 December June
2023 % change 2022 2023
Revenue (R'000) 1 377,2 (4,5) 1 442,1 2 591,1
Operating profit (R' million) 126,3 (12,3) 144,0 252,5
Profit before taxation (R' million) 121,4 (11,0) 136,4 239,7
Earnings and diluted earnings
per share (cents) 299,1 (5,4) 316,1 567,9
Headline and diluted headline earnings
per share (cents) 299,1 (5,6) 316,7 567,8
Total gross dividend per share (cents) 80,0 (5,9) 85,0 260,0
Net asset value per share (cents) 3 090,0 10,8 2 788,0 2 958,0
Operating margin % 9,2 (8,0) 10,0 9,7
Net cash
Net interest-bearing debt: equity ratio (%) 5,4 39,3 8,9 positive
INTRODUCTION
Transpaco's results for the six months ended 31 December 2023 ("the period") reflect a 5,6% decrease
in headline earnings per share (HEPS) to 299,1 cents (December 2022: 316,7 cents). Trading conditions
remained challenging due to rampant load shedding, a stagnant economy and high interest rates.
However, Transpaco's share buyback strategy curtailed the negative impact on HEPS. Revenue decreased
by 4,5% to R1 377,2 million (December 2022: R1 442,1 million) with operating profit down 12,3% to
R126,3 million (December 2022: R144,0 million). Revenue in the Plastics Division decreased by 10,1%,
while conversely revenue in the Paper and Board Division increased by 2,6%. Traditionally revenue is
higher in the first six months of the financial year due to the seasonal nature of the business.
The reduction in operating margin to 9,2% (December 2022: 10,0%) contributed to the decrease in the
group's operating profit by 12,3%.
DIVIDEND
The board has declared an interim gross cash dividend out of income reserves of 80,0 cents per share
(December 2022: 85,0 cents per share) for the six-months ended 31 December 2023. After applying the
dividend withholding tax of 20%, a net interim dividend of 64,00000 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 28 839 388 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, 12 March 2024
Shares trade ex-dividend Wednesday, 13 March 2024
Record date Friday, 15 March 2024
Payment date Monday, 18 March 2024
Share certificates may not be dematerialised or rematerialised between Wednesday, 13 March 2024 and
Friday, 15 March 2024, 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 19 February 2024,
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/2024/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
19 February 2024
DIRECTORS
DJJ Thomas (Chairman)*; PN Abelheim (Chief Executive); L Weinberg (Chief Financial Officer);
HA Botha**; SR Bouzaglou; SY Mahlangu**; SP van der Linde (Lead Independent Director)**
* Non-executive ** Independent non-executive
Transpaco Limited Registration number: 1951/000799/06, Share code: TPC, ISIN: ZAE000007480
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
Date: 19-02-2024 02:15:00
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