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Condensed Consolidated Interim Results for the six months to 31 December 2021

Published: 2022-02-22 11:50:00 ET

Transpaco Limited (JSE:TPC) News - Condensed Consolidated Interim Results for the six months to 31 December 2021

Transpaco Limited
Registration number 1951/000799/06 
ISIN: ZAE000007480 
Share code: TPC
("Transpaco" or "the company")

Condensed Consolidated Interim Results for the Six months to 31 December 2021

- NET ASSET VALUE PER SHARE 2 432 CENTS
- HEADLINE EARNINGS PER SHARE up 39% to 218,8 CENTS
- DIVIDEND PER SHARE 60,0 CENTS

FINANCIAL RESULTS

                                                           Unaudited
                                              Unaudited   six months    Unaudited     Audited
                                             six months     December   six months   12 months
                                               December         2021     December        June
                                                   2021     % change         2020        2021
Continuing operations
Earnings per share (cents)                        227,4         43,8        158,2       337,4
Diluted earnings per share (cents)                227,4         43,8        158,2       337,4
Headline earnings per share (cents)               218,8         40,0        156,2       336,2
Diluted headline earnings per share (cents)       218,8         40,0        156,2       336,2
Continuing and discontinued operations
Revenue (R'000)                                 1 204,2         10,1      1 093,3     2 078,9
Earnings per share (cents)                        227,4         42,5        159,6       337,4
Diluted earnings per share (cents)                227,4         42,5        159,6       337,4
Headline earnings per share (cents)               218,8         38,7        157,7       336,2
Diluted headline earnings per share (cents)       218,8         38,7        157,7       236,2
Net asset value per share (cents)               2 432,1         13,2      2 148,0     2 306,3

TOTAL OPERATIONS
Transpaco's results reflect a 38,7% increase in headline earnings per share (HEPS) to 218,8 cents per share 
for the period (December 2020: 157,7 cents). Although the July 2021 riots did not impact Transpaco directly, 
many of our customers were affected by store closures. This resulted in sales for July and August not reaching 
anticipated levels. Revenue increased by 10,1% to R1,20 billion (December 2020: R1,09 billion) with operating 
profit up by 38,0% to R108,3 million (December 2020: R78,9 million).The group's expenses were contained at acceptable 
levels with gross profit margins well?managed and controlled. The Plastics Division accounted for significant revenue 
growth, while the Paper and Board Division performed within expectations. Notably revenue in the first six months of the 
financial year is traditionally greater than that of the second six months due to the seasonal nature of the business.

DIVIDEND
The board has declared an interim gross cash dividend out of income reserves of 60,0 cents per share (December 2020:
43,0 cents per share) for the six?month period ended 31 December 2021. After applying the dividend withholding tax of
20%, a net interim dividend of 48,0 cents per share will be paid to those shareholders who are not exempt from the
dividends tax. The issued shares at the date of declaration is 31 499 388 ordinary shares. The Income Tax reference
number is 9975/112/71/6.

The salient dates for the dividend are as follows:
Last date to trade shares cum dividend Tuesday, 15 March 2022
Shares trade ex-dividend Wednesday, 16 March 2022
Record date Friday, 18 March 2022
Payment date Tuesday, 22 March 2022
Share certificates may not be dematerialised or rematerialised between Wednesday, 16 March 2022 
and Friday, 18 March 2022, both days inclusive.

ADMINISTRATIVE INFORMATION
This short-form announcement is the responsibility of the directors and is only a summary of the information in the
full announcement. The full announcement was released on SENS on 22 February 2022, and can be found on the company's
website at www.transpaco.co.za and on the following JSE link:
https://senspdf.jse.co.za/documents/2022/jse/isse/TPC/Interims.pdf

Any investment decision should be based on the full announcement published on SENS and on the company's website.

Copies of the full announcement may be requested from the Company Secretary at Hendrik@transpaco.co.za.

On behalf of the board

DJJ Thomas                    PN Abelheim                   L Weinberg
Non-executive Chairman        Chief Executive Officer       Chief Financial Officer

22 February 2022

DIRECTORS
DJJ Thomas (Chairman)*; PN Abelheim (Chief Executive); L Weinberg (Chief Financial Officer);
HA Botha**; SR Bouzaglou; SP van der Linde (Lead Independent Director)**
* Non?executive ** Independent non?executive

Auditors: BDO South Africa Incorporated Company Secretary HJ van Niekerk
Sponsor: Investec Bank Limited

Registered office: 331 6th Street, Wynberg, Sandton Transfer secretaries Computershare Investor Services (Pty) Limited,
Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg

Website: www.transpaco.co.za

Date: 22-02-2022 01:50:00
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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.