Primeserv Group Delivers Strong Growth, Raises Dividend Payout

  • Primeserv Group achieves impressive financial results: 4% revenue growth to R805.1 million, 27% increase in operating profit to R20.6 million, and 27% growth in earnings per share.
  • The company's robust performance reflects successful cost management and strategic initiatives, driving profitability and enhancing shareholder value.
  • Primeserv Group declares a 20% higher final dividend of 7.00 cents per share, demonstrating its commitment to rewarding shareholders for their investment.
Hammerson Financial Review

Primeserv Group Limited has announced impressive financial results for the year ended March 31, 2023. The company has reported significant growth in key financial indicators, demonstrating its strong performance and ability to generate value for shareholders.

Primeserv Group achieved a 4% increase in revenue, with total revenue amounting to R805.1 million for the year. This growth can be attributed to [provide possible reasons, such as successful cost management or expansion into new markets].

The company’s operating profit witnessed a remarkable surge of 27%, reaching R20.6 million. This increase reflects Primeserv’s efficient operational management and focus on driving profitability.

Shareholders will be pleased to note that both earnings per share and headline earnings per share rose by 27% and 28% respectively. Earnings per share reached 23.38 cents, while headline earnings per share amounted to 23.42 cents, highlighting Primeserv’s commitment to delivering sustainable and profitable growth.

Primeserv Group’s net asset value per share experienced a healthy growth of 9%, reaching 240 cents. This growth underscores the company’s strong financial position and enhances investor confidence in its long-term prospects.

Furthermore, the company has declared a final gross cash dividend of 7.00 cents per share for the year, representing a 20% increase compared to the previous year’s final dividend. This announcement reflects Primeserv’s dedication to rewarding its shareholders and sharing its success.

The dividend timeline for shareholders is as follows:

  • Last date to trade “cum” dividend: Monday, August 7, 2023.
  • Date trading commences “ex” dividend: Tuesday, August 8, 2023.
  • Record date: Friday, August 11, 2023.
  • Date of payment: Monday, August 14, 2023.

It is important to note that shareholders subject to the Dividend Withholding Tax of 20% will receive a net dividend of 5.60 cents per share. Primeserv Group has 116,747,100 ordinary shares in issue.

Primeserv Group’s remarkable financial performance is a testament to its strategic initiatives and strong market position. The company’s ability to adapt to changing market conditions and capitalize on growth opportunities has contributed to its continued success.

The financial results have been reviewed by PKF Octagon Incorporated, the company’s auditors, who provided an unqualified review in accordance with ISRE 2410 “Review of interim financial information performed by the independent auditor of the entity.” The review conclusion can be accessed on Primeserv’s official website.

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