Marshall Monteagle PLC Reports 2,525% Profit Surge, Declares Dividend

  • Marshall Monteagle PLC's FY2024 saw a 2,525% increase in profit after tax.
  • The company declared a final dividend of 1.9 US cents per share.
  • Total revenue from continuing operations dropped by 13% to $83 million.

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.

Metric12 Months to March 31, 202412 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.

MetricFY2024FY2023% Change
Basic Earnings (Rands)ZAR 2.7555ZAR 0.11+2,405%
Headline Earnings (Rands)ZAR 1.0947ZAR -0.78+240%
Basic Earnings (Cents per Share)14.6c0.6c+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 DetailsFY2024
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.


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