Marshall Monteagle PLC, an investment company listed on the JSE Limited, has announced its audited results for the year ending March 31, 2024. The company has a diverse range of investments, including blue-chip international listed companies, industrial property in South Africa, and financing and trading companies operating internationally.
Performance Highlights
Revenue and Profit Growth
The company’s total revenue from continuing operations dropped by 13%, from $95.8 million in FY2023 to $83 million in FY2024. Despite this decline, profits before tax and non-controlling interests surged by 592%, reaching $5.97 million compared to $863,000 in the previous year. Profit after tax and non-controlling interests saw an astonishing increase of 2,525%, jumping from $200,000 to $5.25 million.
| Metric | 12 Months to March 31, 2024 | 12 Months to March 31, 2023 | % Change |
|---|---|---|---|
| Total Revenue (Continuing Operations) | $83,005,000 | $95,819,000 | -13% |
| Profit Before Tax and Non-Controlling Interests | $5,965,000 | $863,000 | +592% |
| Profit After Tax and Non-Controlling Interests | $5,250,000 | $200,000 | +2,525% |
Earnings Per Share
Basic earnings per share (EPS) increased significantly, rising by 2,333% to 14.6 cents, up from 0.6 cents in FY2023. Headline earnings per share also showed strong growth, climbing 231% to 5.8 cents from a loss of 4.4 cents.
| Metric | FY2024 | FY2023 | % Change |
|---|---|---|---|
| Basic Earnings (Rands) | ZAR 2.7555 | ZAR 0.11 | +2,405% |
| Headline Earnings (Rands) | ZAR 1.0947 | ZAR -0.78 | +240% |
| Basic Earnings (Cents per Share) | 14.6c | 0.6c | +2,333% |
| Headline Earnings (Cents per Share) | 5.8c | -4.4c | +231% |
Weighted Average Shares
The weighted average number of ordinary shares remained unchanged at 35,857,512.
Dividend Declaration
The board has declared a final gross dividend of 1.9 US cents per share for FY2024. This equates to 34.52737 ZAR cents per share, based on the exchange rate on June 25, 2024 (US$1 = ZAR 18.17230).
Dividend Tax Information
For shareholders registered on the South African register, the dividend will be paid in ZAR. The gross dividend is 34.52737 ZAR cents, subject to a 20% withholding tax. This results in a net dividend of 27.6219 ZAR cents per share for non-exempt shareholders.
| Dividend Details | FY2024 |
|---|---|
| Gross Dividend (US cents) | 1.90000 |
| Gross Dividend (ZAR cents) | 34.52737 |
| Net Dividend (US cents) | 1.52000 |
| Net Dividend (ZAR cents) | 27.62190 |
Conclusion
Marshall Monteagle PLC has demonstrated robust financial performance in FY2024, with significant increases in profits and earnings per share. The company continues to invest for long-term growth, generating reliable profits, cash flow, and dividends for shareholders.