Argent Industrial Limited has released its audited annual results for the year ended March 31, 2024. The company showed steady growth across key financial metrics.
Income Statement Highlights
- Revenue increased by 3.5% to R2.54 billion from R2.46 billion in FY2023.
- EBITDA grew by 9.6% to R394.6 million from R360 million.
- Operating profit rose by 12.6% to R342.7 million from R304.4 million.
- Profit for the year improved by 6.8% to R252.3 million from R236.3 million.
| Metric | FY2024 (R’000) | FY2023 (R’000) | % Change |
|---|---|---|---|
| Revenue | 2,544,216 | 2,459,359 | 3.5% |
| EBITDA | 394,615 | 360,043 | 9.6% |
| Operating Profit | 342,729 | 304,358 | 12.6% |
| Profit for the Year | 252,305 | 236,265 | 6.8% |
Balance Sheet Summary
The company’s total assets increased by 16.4% to R2.51 billion, while total liabilities rose by 22.6% to R792.8 million. Shareholders’ funds grew by 13.8% to R1.72 billion.
| Metric | FY2024 (R’000) | FY2023 (R’000) | % Change |
|---|---|---|---|
| Total Assets | 2,514,670 | 2,159,589 | 16.4% |
| Total Liabilities | 792,761 | 646,596 | 22.6% |
| Shareholders’ Funds | 1,721,909 | 1,512,993 | 13.8% |
| Net Asset Value per Share (cents) | 3,115.4 | 2,683.6 | 16.1% |
Earnings and Dividends
Earnings per share (EPS) showed positive growth, with basic EPS up by 7.0% to 441.9 cents. Diluted EPS increased by 7.4% to 441.9 cents. Headline EPS rose by 6.6% to 438.5 cents.
| Metric | FY2024 (cents) | FY2023 (cents) | % Change |
|---|---|---|---|
| Basic EPS | 441.9 | 413.1 | 7.0% |
| Diluted EPS | 441.9 | 411.3 | 7.4% |
| Headline EPS | 438.5 | 411.3 | 6.6% |
| Diluted Headline EPS | 438.5 | 409.5 | 7.1% |
| Dividends per Share | 115.0 | 95.0 | 21.1% |
The Board has declared a final gross dividend of 60 cents per share, bringing the total dividend for FY2024 to 115 cents per share, up by 21.1% from 95 cents per share in FY2023.
Dividend Details
| Key Dates | Information |
|---|---|
| Last day to trade cum dividend | 16 July 2024 |
| Trading ex-dividend starts | 17 July 2024 |
| Record date | 19 July 2024 |
| Payment date | 22 July 2024 |
Shareholders not exempt from dividend tax will receive a net dividend of 48 cents per share after a 20% withholding tax.
Annual General Meeting
The company will hold its annual general meeting (AGM) on 22 August 2024 at 11:00 AM. The AGM will take place at the company’s boardroom, located at First floor, Ridge 63, 8 Sinembe Crescent, La Lucia Ridge Office Estate, Umhlanga.
| AGM Details | Information |
|---|---|
| Venue | First floor, Ridge 63, 8 Sinembe Crescent, La Lucia Ridge Office Estate, Umhlanga |
| Record date for notice | 21 June 2024 |
| Notice publication date | 27 June 2024 |
| Last day to trade for AGM eligibility | 13 August 2024 |
| Record date for AGM eligibility | 16 August 2024 |
| Proxy submission deadline | 20 August 2024 |
| AGM date | 22 August 2024 |
| Results publication date | 22 August 2024 |
Conclusion
Argent Industrial Limited has demonstrated solid financial performance for FY2024. Revenue, EBITDA, and profit figures have shown healthy growth, while the balance sheet remains robust. The significant increase in dividends reflects the company’s strong financial health and commitment to returning value to shareholders. Investors and stakeholders are encouraged to review the full annual report for comprehensive details.