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Remgro Limited reports encouraging improved performance in audited results

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Remgro Limited has released its summary of the audited results for the year ended 30 June 2021, with the group declaring a final dividend of 60 cents per share.

On Wednesday, 22 September 2021, Remgro Limited issued its summary of audited results for the year ended 30 June 2021, as well as its cash dividend declaration. The group pointed out that while the ramifications of the pandemic will still be felt, it is encouraged by its improved performance in 2021.

Remgro reported that its headline earnings from continuing operations had increased by 66.1 percent from R1 737 million to R2 885 million, while headline earnings per share from continuing operations increased by 66.0 percent from 307.5 cents to 510.6 cents. Total headline earnings and total headline earnings per share are reported to have decreased by 8.9 percent to R2 885 million and from 560.6 cents to 510.6 cents per share, respectively. The increase in headline earnings from continuing operations was due to recovery in earnings of Remgro’s investee companies. A 60 cents per share final gross dividend was declared.

Who are Remgro Limited’s Investee companies?

Remgro’s investee companies include RCL Foods Limited, Distell Group Holdings Limited, Total Energies Marketing South Africa Propriety Limited, as well as Rand Merchant Investment Holdings Limited, Mediclinic International plc, FirstRand Limited and Rand Merchant Bank Holding Limited, some of which contributed recovery in earnings.

What was the outcome of the intrinsic net asset value as per the results?

The group reported an increase of 14.8 percent to R177.33 for 30 June 2021. The closing share price at 30 June 2021 was R114.60, which represented a discount of 35.4 percent to the intrinsic net asset value.

What was the directors’ statement on the released results?

The directors responsible for the contents of the short-form announcement have presented the audited results of Remgro for the year ended 30 June 2021. The preparation of the group’s consolidated results was supervised by the Chief Financial Officer, Neville Williams CA (SA).

Mahlohonolo Lakaje
[email protected]

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