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Results for the six months ended 31 December 2024, and Interim Dividend
AVI LIMITED
Registration number: 1944/017201/06
JSE and A2X share code: AVI
ISIN: ZAE000049433
("AVI" or "the Group" or "the Company")
RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2024, AND INTERIM DIVIDEND
Key statistics and features
% change
Revenue 1,1
Gross profit 4,6
Operating profit 8,9
Headline earnings 9,1
Headline earnings per share 8,9
Earnings per share 9,9
- Constrained consumer environment
- Group revenue increased by 1,1%
- Fashion retail portfolio challenged by supplier and global supply chain issues
- I&J impacted by low abalone demand coupled with lower selling prices
- Gross margins protected notwithstanding challenging environment
- Group operating profit increased by 8,9%
- Headline earnings per share up 8,9% to 407,5 cents
- Interim dividend of 220 cents per share, up 8,9%
- Strong cash generation sustained
- Profit after tax of R12,6 million on disposal of squid fishing operation
- Capital expenditure of R424,8 million
- Return on capital employed of 34,2% for the 12 months to December 2024
This short-form announcement is the responsibility of the directors, and has not been reviewed or audited
by the Group's auditors. The short-form announcement is only a summary of the information in the full
announcement. Any investment decision should be based on the full announcement.
The full announcement can be found
- On the JSE's website at https://senspdf.jse.co.za/documents/2025/jse/isse/AVI/AVIH1F25.pdf
- On the Company's website at https://www.avi.co.za/investor/results-and-presentations/current-year
Copies of the full announcement may also be requested at the Company's registered office and offices of
our sponsor, at no charge, during office hours.
Interim dividend
Notice is hereby given that a gross interim ordinary dividend No. 106 of 220 cents per share for the six
months ended 31 December 2024 has been declared payable to shareholders of ordinary shares. The dividend
has been declared out of income reserves and will be subject to dividend withholding tax at a rate of 20%.
Consequently a net interim dividend of 176 cents per share will be distributed to those shareholders who
are not exempt from paying dividend tax. In terms of dividend tax legislation, the dividend tax amount
due will be withheld and paid over to the South African Revenue Services by a nominee company, stockbroker
or Central Securities Depository Participant ("CSDP") (collectively "regulated intermediary") on behalf of
shareholders. However, all shareholders should declare their status to their regulated intermediary,
as they may qualify for a reduced dividend tax rate or exemption. AVI's issued share capital at the
declaration date is 339 975 466 ordinary shares. AVI's tax reference number is 9500/046/71/0.
The salient dates relating to the payment of the dividend are as follows:
Last day to trade cum dividend on the JSE Tuesday, 8 April 2025
First trading day ex dividend on the JSE Wednesday, 9 April 2025
Record date Friday, 11 April 2025
Payment date Monday, 14 April 2025
In accordance with the requirements of Strate Limited, no share certificates may be dematerialised or
rematerialised between Wednesday, 9 April 2025, and Friday, 11 April 2025, both days inclusive.
Dividends in respect of certificated shareholders will be transferred electronically to shareholders' bank
accounts on payment date. Following the discontinuation of cheque payments by most South African banks,
AVI will no longer issue cheques and all future payments will only be made into a nominated bank account by
electronic funds transfer. Shareholders who have not yet provided their bank account details to
Computershare Investor Services Proprietary Limited are reminded to contact Computershare on 0861 100 950
with their bank account details into which the dividends can be paid electronically. Shareholders who hold
dematerialised shares will have their accounts at their CSDP or broker credited on Monday, 14 April 2025.
By order of the Board
Mike Watters Simon Crutchley
Chairman CEO
10 March 2025
Sponsor
The Standard Bank of South Africa Limited
Date: 10-03-2025 07:05:00
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