PBT Group Limited, a South African data and software engineering firm, released its Integrated Annual Report (IAR) for the year ending March 31, 2024. The report includes audited consolidated financial statements and a notice of the Annual General Meeting (AGM). The IAR is available on the company’s website.
Financial Performance
Revenue and Profit
PBT Group reported a 3% increase in revenue, reaching ZAR 1,072 million in FY2024 compared to ZAR 1,041 million in FY2023. Earnings before interest, taxation, depreciation, and amortisation (EBITDA) decreased by 5.6% to ZAR 139 million from ZAR 147 million.
| Metric | FY2024 (ZAR) | FY2023 (ZAR) | Change (%) |
|---|---|---|---|
| Revenue (million) | 1,072 | 1,041 | 3.0 |
| EBITDA (million) | 139 | 147 | -5.6 |
| Operating Profit (million) | 132 | 140 | -5.7 |
| Profit Before Taxation (million) | 136 | 140 | -3.1 |
| Profit for the Year (million) | 97 | 102 | -5.1 |
| Profit Attributable to Owners (million) | 64 | 72 | -11.2 |
| Cash Generated from Operations (million) | 144 | 138 | 4.3 |
| Earnings per Share (cents) | 62.6 | 82.0 | -23.6 |
| Headline Earnings per Share (cents) | 62.7 | 82.2 | -23.8 |
Distribution Policy
The board declared a total distribution of 34 cents per share for FY2024, up 3% from the previous year.
| Distribution Type | FY2024 (cents) | FY2023 (cents) | Change (%) |
|---|---|---|---|
| Total Ordinary Cash Distribution | 60 | 58 | 3.4 |
| Interim Ordinary Cash Distribution | 26 | 25 | 4.0 |
| Final Ordinary Cash Distribution | 34 | 33 | 3.0 |
Dividends and Capital Reduction
On June 24, 2024, the board declared a capital reduction distribution of 17 cents per share and a dividend of 17 cents per share, totaling ZAR 35.4 million. The gross dividend is subject to a 20% withholding tax, resulting in a net dividend of 13.6 cents per share for non-exempt shareholders.
Conclusion
PBT Group’s FY2024 results reflect a steady revenue increase amid challenges. The company’s commitment to technological integration and data transformation remains strong. Shareholders are encouraged to review the full IAR and financial statements available on the company’s website.
