Primeserv Group Limited has released its financial results for the year ended 31 March 2024. The company demonstrated robust growth across key financial metrics.
| Metric | FY 2024 | FY 2023 | Change |
|---|---|---|---|
| Revenue | R950.6 million | – | +18% |
| Operating Profit | R23.9 million | – | +16% |
| Earnings Per Share (EPS) | 32.57 cents | – | +39% |
| Headline Earnings Per Share | 32.68 cents | – | +40% |
| Net Asset Value Per Share | 265 cents | – | +10% |
Revenue and Profit Growth
Primeserv’s revenue for the year increased by 18%, reaching R950.6 million. The company’s operating profit rose by 16% to R23.9 million, showcasing efficient operational management.
Earnings Per Share
Earnings per share (EPS) saw a significant rise, increasing by 39% to 32.57 cents. Similarly, headline earnings per share increased by 40% to 32.68 cents.
Net Asset Value
The net asset value per share also experienced growth, up by 10% to 265 cents.
Dividend Announcement
Primeserv has declared a final gross cash dividend of 10.00 cents per share for the year, up from 7.00 cents per share in 2023. This represents a 43% increase in the dividend payout.
Dividend Payment Dates
The important dates for the dividend are as follows:
| Event | Date |
|---|---|
| Last Date to Trade “Cum” | 27 August 2024 |
| Trading Commences “Ex” | 28 August 2024 |
| Record Date | 30 August 2024 |
| Payment Date | 2 September 2024 |
Shareholders who are not exempt from the Dividend Withholding Tax of 20% will receive a net dividend of 8.00 cents per share.
Conclusion
Primeserv Group Limited has demonstrated strong financial performance for the year ended 31 March 2024. The company achieved significant growth in revenue, operating profit, and earnings per share. The increased dividend reflects the company’s commitment to delivering value to shareholders. With effective management and strategic initiatives, Primeserv is well-positioned for continued growth.