Wrap Text
Condensed Interim Consolidated Financial Statements for 6 Months Ended 30 September 2024 and Dividend Declaration
Marshall Monteagle PLC
(Incorporated in Jersey)
(Registration number: 102785)
(External registration number: 2010/024031/10)
JSE Code: MMP ISIN: JE00B5N88T08
Main Board - General Segment
("the Company" or "the Group")
Short Form Announcement:
Condensed interim consolidated financial statements for the 6 months ended 30 September 2024 and
dividend declaration
Introduction
The Company holds portfolios of leading investments in the U.S.A., U.K., Europe and the Far East as well as
commercial properties in South Africa. The Group's import and distribution businesses operate internationally,
and in South Africa it has interests in food processing and logistics.
Headlines
• Group revenue from continuing operations decreased 15% to US$40,172,000 compared to the six
months period to 30 September 2023. In constant currency terms revenue on continuing operations
decreased by 17% to US$39,533,000.
• Profit before tax on trading and property operations increased by 325% to US$1,697,000 compared to
the six months period to 30 September 2023.
• Profit after tax on continuing operations for the period was US$2,493,000, compared to a profit after tax
of US$625,000 for the six months period to 30 September 2023. In constant currency terms, the profit was
US$2,505,000.
• Available cash and cash equivalents have increased by 5% to US$43,791,000 compared to 31 March
2024 mainly due to cash released from the investment portfolio.
• Headline and basic earnings per share on continuing and discontinuing operations were US$6.2 cents
per share compared to earnings of US$2.2 cents per share in the six months period to 30 September
2023.
• Headline and basic earnings per share on continuing operations were US$7.0 cents compared to basic
earnings of US$1.7 cent per share in the six months period to 30 September 2023.
• An interim dividend of US$2.0 cents per share will be paid on Friday, 24 January 2025 (30 September
2023 – US$1.9 cents).
• Net assets per share increased to US$2.54 cents from US$2.46 cents at 31 March 2024.
Dividend declaration
We are pleased to announce that the Company is to pay a gross interim dividend of US$2.0 cents (35.57780
South African cents) per share. The dividend is payable on Friday, 24 January 2025 to shareholders on the
register at the close of business on Friday, 10 January 2025.
Shareholders on the South African register will receive their interim dividend in South African Rand converted
from US dollars at the closing rate of exchange on Thursday, 12 December 2024. In order to comply with the
requirements of Strate, the relevant details are as follows:
Shareholders are hereby advised that the exchange rate to be used will be USD 1 = ZAR 17.78890. This has
been calculated as the average of the bid/ask spread at 16.00 (United Kingdom time) being the close of
business on Thursday, 12 December 2024.
In respect of the normal gross cash dividend of US$2.0 cents (35.57780 South African cents), and in terms of
the South African Tax Act, the following dividend tax ruling only applies to those shareholders who are
registered on the South African register at close of business on Friday, 10 January 2025. All other
shareholders are exempt. The gross dividend is for the six-month period ended 30 September 2024 and will
be paid on Friday, 24 January 2025.
• The dividend has been declared from income reserves, which funds are sourced from the Jersey holding
company's main bank account in Switzerland and is therefore deemed a foreign dividend.
• The dividend withholding tax rate is 20% resulting in a net dividend of US$1.60000 cents (28.46224 South
African cents) per share to those shareholders who are not exempt from the dividend withholding tax.
The issued number of shares at the declaration date is 35,857,512. The Company's Jersey tax number is
CH4513/TIN 101-580-5936.
Salient dates for dividend
Last day to trade Tuesday, 7 January 2025
Shares trade ex-dividend Wednesday, 8 January 2025
Record date (date shareholders recorded in books) Friday, 10 January 2025
Pay date Friday, 24 January 2025
No dematerialisation or re-materialisation of share certificates, nor transfer of shares between the registers in
Jersey and South Africa will take place between Wednesday, 8 January 2025 and Friday, 10 January 2025,
both dates inclusive.
Full Announcement
This short-form announcement is the responsibility of the Directors of the Company and is a summary of the
information in the full announcement and does not contain full or complete details.
Any investment decision should be based on the full announcement which is available on the following website:
JSE website: https://senspdf.jse.co.za/documents/2024/jse/isse/mmp/mmpint.pdf
Copies of the full announcement are also available for inspection, at no charge, at the addresses set out
below:
Registered Office Company Secretary South Africa
2nd Floor, 66-72 Esplanade City Group PLC 11 Sunbury Park
Gaspé House Suite 1.01, Central Court La Lucia Ridge Office Estate
St Helier 25 Southampton Buildings La Lucia
Jersey London 4051
JE1 1 GH WC2A 1AL
By order of the Board:
CITY GROUP PLC
Company Secretary
17 December 2024
London
JSE Sponsor to the Company
Questco Corporate Advisory Proprietary Limited
Date: 17-12-2024 10:00:00
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