Bowler Metcalf: 2023 Results, Dividend, and AGM Update

  • Bowler Metcalf Limited's 2023 financial results: Net asset value and revenue up, while profits and earnings per share declined.
  • The company declared a final dividend of 24.60 cents per share for 2023, with important dividend-related dates.
  • Bowler Metcalf's 35th Annual General Meeting (AGM) is set for November 7, 2023, with key eligibility and voting dates.

Bowler Metcalf Limited, has released its consolidated annual financial results for the year ending June 30, 2023, revealing a mixed bag of financial performance. The company also declared its dividend for the year and disclosed details of its upcoming Annual General Meeting (AGM).

Financial Performance Highlights

In a year filled with economic uncertainties, Bowler Metcalf Limited reported a set of financial results that reflected the challenges faced by many businesses. Here’s a summary of the key financial performance indicators for the year 2023 compared to the previous year:

Metric2023% Change2022
Net Asset Value (R’mil)R728.1+3%R704.3
Revenue (R’mil)R717.0+7%R673.1
Profit from Operations (R’mil)R72.8-27%R100.0
Net Profit Before Tax (R’mil)R92.4-19%R114.4
Net Profit After Tax (R’mil)R68.7-17%R82.7
Earnings per Share (cents)
– Earnings99.0-15%116.3
– Headline Earnings103.0-11%116.3

The company’s net asset value showed a slight increase of 3%, reaching R728.1 million in 2023. However, the road was less smooth when it came to earnings and profit. Bowler Metcalf experienced a decrease in both profit from operations (down 27% to R72.8 million) and net profit before tax (down 19% to R92.4 million) compared to the previous year.

Earnings per share also took a hit, with earnings per share dropping by 15% to 99.0 cents per share and headline earnings per share falling by 11% to 103.0 cents per share.

Dividend Declaration

One of the most awaited announcements in Bowler Metcalf’s annual report is the dividend declaration. For the year ending June 30, 2023, the company declared a final gross cash dividend of 24.60 cents per share. This represents a decrease from the previous year’s dividend of 27.00 cents per share.

Shareholders can mark their calendars for the following important dates related to the dividend:

  • Payable Date: Monday, 30 October 2023.
  • Last Day to Trade: Tuesday, 24 October 2023.
  • Ex-Date: Wednesday, 25 October 2023.
  • Record Date: Friday, 27 October 2023.

It’s important to note that share certificates may not be dematerialized or rematerialized between Wednesday, 25 October 2023, and Friday, 27 October 2023, both days inclusive.

The dividend, which will be made from income reserves, has a gross value of 24.60 cents per share. However, a Dividend Withholding Tax (DWT) of 20% will be applied, resulting in a net local cash dividend of 19.68 cents per share. The company’s directors have confirmed that the solvency and liquidity test is satisfied at the date of this report.

Annual General Meeting (AGM)

The company’s Annual General Meeting (AGM) is a crucial event where shareholders have the opportunity to participate in key decisions. The 35th AGM of Bowler Metcalf Limited is scheduled to take place at the company’s head office located at 15 Harris Drive, Ottery, 7800, on Tuesday, 7 November 2023, at 09:00.

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