Primeserv Group FY 2024: Revenue Up 18%, EPS Soars 39%, Dividend Rises 43%

  • Primeserv Group reports an 18% increase in revenue to R950.6 million for FY 2024.
  • Earnings per share (EPS) surged by 39%, reaching 32.57 cents.
  • The company declared a 43% higher dividend of 10.00 cents per share.

Primeserv Group Limited has released its financial results for the year ended 31 March 2024. The company demonstrated robust growth across key financial metrics.

MetricFY 2024FY 2023Change
RevenueR950.6 million+18%
Operating ProfitR23.9 million+16%
Earnings Per Share (EPS)32.57 cents+39%
Headline Earnings Per Share32.68 cents+40%
Net Asset Value Per Share265 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:

EventDate
Last Date to Trade “Cum”27 August 2024
Trading Commences “Ex”28 August 2024
Record Date30 August 2024
Payment Date2 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.


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