Enhanced Investments - Financial Portal

Audited Financial Statements and Cash Dividend Declaration for the year ended 30 June 2024

Published: 2024-09-10 13:10:20 ET

WILSON BAYLY HOLMES - OVCON LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1982/011014/06
JSE and A2X Share Code: WBO
ISIN: ZAE000009932
(“the Company or “the Group”)

AUDITED FINANCIAL STATEMENTS AND CASH DIVIDEND DECLARATION FOR THE YEAR ENDED 30 JUNE 2024

FINANCIAL PERFORMANCE:
The Group delivered a strong performance for the financial year ended 30 June 2024 and all businesses
performed well over the period. The South African business specifically, continues to demonstrate increased
activity within certain sectors.


Key highlights:
    • Revenue from continuing operations for the period increased by 16% to R27.5 billion
         (2023: R23.8 billion)
    • Operating profit from continuing operations increased by 17.8% to R1.2 billion (2023: R1.1 billion)
    • Operating profit from total operations increased by 30% to R1.2 billion (2023: 958 million)
    • Earnings per share from continuing operations of 1 853 cents (2023: 1 679 cents)
    • Earnings per share from total operations of 1 844 cents (2023: 1 490 cents)
    • Headline earnings per share from continuing operations of 2 021 cents (2023: 1 703 cents)
    • Headline earnings per share from total operations of 2 012 cents (2023: 1 515 cents)
    • The net asset value of the Group amounts to R4.7 billion (2023: R4 billion)
    • Order book of R30.6 billion at June 2024 (2023: R32.6 billion)
    • Final cash dividend of 230 cents per share declared for the year ended 30 June 2024
         (2023: Nil cents per share)


The audited consolidated financial statements (“full announcement”) can be found at the following link
https://senspdf.jse.co.za/documents/2024/jse/isse/WBO/Audited24.pdf and on the Company's website at
www.wbho.co.za

A set of summary consolidated financial statements together with relevant commentary on the Group’s
performance for the year ended 30 June 2024 is available on the Company’s website at
www.wbho.co.za/investors/2024

The full announcement has been audited by the Group’s auditors, PricewaterhouseCoopers Incorporated who
expressed an unmodified opinion thereon.

The directors are responsible for the preparation and fair presentation of the full audited consolidated
financial statements and the summary consolidated financial statements for the year ended 30 June 2024.

The short-form announcement is a summary of the information included in the full announcement and any
investment decision should be based on the full announcement. Copies of the full announcement may also be
requested via email from the Company secretary, Donna.Msiska@wbho.co.za.

CASH DIVIDEND
Notice is hereby given that the directors have declared a final gross dividend of 230 cents per share (2023: Nil).

The following dates in respect of the payment of the dividend are relevant:
Last date to trade cum dividend:                        Tuesday, 22 October 2024
Trading ex dividend commences:                       Wednesday, 23 October 2024
Record date:                                              Friday, 25 October 2024
Payment date:                                            Monday, 28 October 2024
Shares may not be dematerialised or re-materialised between Wednesday, 23 October and Friday, 25 October
2024, both dates inclusive.

In terms of dividend tax legislation, the following information is disclosed:
     • The dividend is declared from income reserves and is subject to dividend withholding tax of 20%
     • The dividend net of dividend tax amounts to a net dividend of 184 cents per share
     • The number of shares in issue at date of declaration amounts to 71 018 425 (52 702 651 exclusive of
         treasury shares)
     • The Company’s tax reference number is 9999597710


On behalf of the Board


EL Nel                   WP Neff                            AC Logan
Chairman                 Chief Executive Officer            Chief Financial Officer

Registered office
53 Andries Street
Wynberg
Sandton

10 September 2024

Sponsor: Investec Bank Limited

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.