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AFRICAN & OVERSEAS ENTERPRISES LIMITED - Short-form announcement: Summarised consolidated financial results for the year ended 30 June 2019

Release Date: 30/09/2019 17:41
Code(s): AON AOO AOVP     PDF:  
Wrap Text
Short-form announcement: Summarised consolidated financial results for the year ended 30 June 2019

AFRICAN AND OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO     ISIN: ZAE000000485
JSE share code: AON     ISIN: ZAE000009718
JSE share code: AOVP    ISIN: ZAE000000493
("the company")


SHORT-FORM ANNOUNCEMENT:
SUMMARISED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 30 JUNE 2019

African and Overseas Enterprises Limited is an investment holding company being invested in Rex Trueform Group
Limited ("Rex Trueform"). Rex Trueform is currently invested in property, retail and water infrastructure. Its interest
in retail is through its wholly-owned subsidiary company, Queenspark Proprietary Limited, and its subsidiary. Rex
Trueform's interest in property includes direct property ownership as well as indirect property investment through a
subsidiary. Rex Trueform's investment in water infrastructure is through its subsidiary, Ombrecorp Trading (RF)
Proprietiary Limited, and its investments.

Financial highlights
Revenue increased by 16.5% to R708.4 million (2018: R608.1 million)
Operating profit increased by 70.8% to R21.8 million (2018: R12.8 million)
Gross profit margin % decreased to 52.6% (2018: 54.4%)
Earnings per share increased by 252.7% to 176.7 cents (2018: 50.1 cents)
Headline earnings per share decreased by 12.2% to 44.1 cents (2018: 50.2 cents)
Net asset value per share increased by 12.6% to R14.43 (2018: R12.81)
Ordinary dividend per share paid amounted to nil cents (2018: nil cents)

This short-form announcement an its contents is the responsibility of the company's directors and the content has been
approved by the board of directors on 30 September 2019. This short-form announcement is a summary of the
information in the company's full results announcement released on SENS and published on 30 September 2019 for
the year ended 30 June 2019 and does not contain complete details. The short-form announcement has not been
audited or reviewed by the company's external auditors. The full results announcement is accessible via the JSE link at
https://senspdf.jse.co.za/documents/2019/jse/isse/AOO/2019FYRes.pdf and on the company's website at
www.rextrueform.com. Copies of the full results announcement may be requested at the company's registered office at
no charge, during normal office hours from Monday, 30 September 2019 to Monday, 7 October 2019. Any investment
decisions in relation to the company's shares should be based on consideration of the full announcement
available on the company's website.

MR Molosiwa                                MA Golding
(Chairman)                                 (Chief Executive Officer)

Cape Town
30 September 2019

JSE share codes: AOO - AON - AOVP ISIN: ZAE000000485 - ZAE000009718 - ZAE000000493

Directors: MR Molosiwa* (Chairman), MA Golding (Chief Executive Officer), WD Nel (Financial Director), HB
Roberts*, PM Naylor*, LK Sebatane*
*Independent non-executive
CEA Radowsky resigned as the Chief Executive Officer of the company with effect from 31 August 2018. MA
Golding was appointed the Chief Executive
Officer of the company with effect from 3 September 2018.
Registered office: 263 Victoria Road, Salt River, Cape Town, 7925
Company secretary: AT Snitcher
Transfer secretaries: Computershare Investor Services Proprietary Limited; Rosebank Towers, 15 Biermann Avenue,
Rosebank, 2196
Sponsor: Java Capital
Websites: www.queenspark.com - www.rextrueform.com

Date: 30/09/2019 05:41:00
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