PBT : Provisional Summarised Audited Consolidated Annual Financial Statements and Distribution Declaration

Provisional Summarised Audited Consolidated Annual Financial Statements and Distribution Declaration

PBT GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1936/008278/06)
JSE share code: PBG   ISIN: ZAE000256319
("PBT Group" or "the Company" or "the Group")


PROVISIONAL SUMMARISED AUDITED CONSOLIDATED ANNUAL FINANCIAL STATEMENTS 
For the financial year ended 31 March 2022 (Provisional Report) and distribution declaration


INTRODUCTION
PBT Group provides data and analytics solutions and services that capitalise on data-driven 
insights, to make well-timed, intuitive business decisions that consistently position our 
clients ahead of the curve.

PBT Group takes ownership of clients' challenges - transforming their data into tangible assets 
that greatly assist in streamlining operations as well as their predictive and analytical 
capabilities.

Technological integration is a key enabler in providing clients with custom-made solutions or 
services in support of their organisational objectives. As a technology agnostic data specialist 
organisation, PBT Group is best positioned to optimise clients' operations without allowing 
product or technology to limit their options.

PBT Group's financial performance was driven by: 
-  Organic revenue growth due to continued demand for PBT Group's services. 
-  Containing costs, resulting in EBITDA margin expansion. 
-  Converting operating accounting earnings into operating cash earnings. 

Key financial results                                            For the year ended     Year-on-year 
                                                                     31 March                change
                                                                 2022           2021              %
Revenue                                            (Rm)         975.7          789.0            24%
Earnings before interest, taxation, 
  depreciation and amortisation                    (Rm)         138.6           98.3            41%
Operating profit                                   (Rm)         130.9           90.4            45%
Profit before taxation                             (Rm)         130.2           90.2            44%
Profit for the year                                (Rm)          92.3           65.3            41%
Profit attributable to owners of the parent        (Rm)          67.2           44.2            52%
Cash generated from operations                     (Rm)         135.8           92.1            47%
Earnings per share                              (cents)         80.44          50.57            59%
Headline earnings per share                     (cents)         82.89          50.59            64%
Normalised headline earnings*                      (Rm)          78.5           45.8            71%
Normalised headline earnings per share          (cents)         75.56          46.10            64%
Net asset value per share                       (cents)          3.29           3.27             1%
Total distribution                              (cents)         57.00          38.00            50%
Interim distribution                            (cents)         25.00          16.00            56%
Final distribution                              (cents)         32.00          22.00            45%
               
* Normalised headline earnings adjust for the impact of IFRS 2. This is a more accurate reflection 
of the underlying earnings generated by PBT Group.               

AUDITORS: UNMODIFIED AUDIT OPINION
The Provisional Report is extracted from the Audited Consolidated Annual Financial Statements of 
PBT Group for the year ended 31 March 2022 (2022 AFS), which were audited by BDO South Africa Inc, 
who expressed an unmodified audit opinion and highlighted certain key audit matters in their report. 
A copy of the auditor's report is available at the following link:
https://www.pbtgroup.co.za/investor-relations/#annual_financial_statements

DISTRIBUTION DECLARATION
The Company's distribution policy is to consider an interim and a final distribution in respect of 
each financial reporting period. At its discretion, the Board of Directors may consider a special 
dividend, where appropriate. Depending on the perceived need to retain funds for expansion or 
operating purposes, the Board of Directors may also elect not to pay distributions. 

On Friday, 24 June 2022, the Board of Directors resolved to declare a final distribution of 32 cents 
per PBT ordinary share for the period ended 31 March 2022. The total distribution will equate to 
R33 892 901.44. Each shareholder will be able to elect to receive the distribution as either a 
dividend as defined by the Income Tax Act, Act 58 of 1962 or as a capital reduction distribution. 
If no election is made, the default option will be that a dividend will be paid to such 
shareholders. An Election Form (for use by certificated shareholders) included with the Notice of 
Annual General Meeting of PBT Group which, together with the Directors' Report, containing details 
of the distribution, will be distributed to shareholders on Friday, 8 July 2022. The Form of 
Election will also be available for download on the Company's website:
https://www.pbtgroup.co.za/investor-relations/#annual_financial_statements

The implications of the elections above are as follows:

-  A gross dividend of 32 cents per PBT ordinary share from income reserves will be subject to 
   dividend withholding tax at a rate of 20%. Consequently, a net final dividend of 25.6 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 Service by a nominee company, stockbroker or Central Securities 
   Depository Participant (CSDP) (collectively "regulated intermediary") on behalf of the 
   shareholders. However, all shareholders choosing this option should declare their status to 
   their regulated intermediary, as they may qualify for a reduced dividend tax rate or exemption.

-  A capital reduction distribution of 32 cents per PBT ordinary share is not subject to dividend 
   withholding tax as the distribution is paid out of capital reserves. As the distribution will 
   be regarded as a return of capital and may therefore have potential capital gains tax 
   consequences, shareholders are advised to consult their tax advisers regarding the impact of 
   the distribution.

As at the date of declaration of the distribution there were 105 915 317 PBT ordinary shares in 
issue. The Company's income tax reference number is 9725148713.

In compliance with the Companies Act, the Directors confirm and have resolved that the Company will 
satisfy the solvency and liquidity test immediately after the payment of the distribution.

In accordance with the provisions of Strate Proprietary Limited, the electronic settlement and 
custody system used by the JSE Limited, the relevant dates for the distribution are as follows:

Election period opens                                                           Friday, 1 July 2022
Last day to trade "cum Distribution"                                          Tuesday, 19 July 2022 
First trading day "ex Distribution"                                         Wednesday, 20 July 2022 
Record date                                                                    Friday, 22 July 2022 
Election period closes by 12:00 on                                             Friday, 22 July 2022 
Payment date                                                                   Monday, 25 July 2022 

No share certificates may be dematerialised or rematerialised between Wednesday, 20 July 2022 and 
Friday, 22 July 2022, both days inclusive. Only shareholders recorded in the Company's share 
register as at the record date are entitled to receive the Distribution.

Payments for certificated shareholders will be transferred electronically to their bank accounts on 
the payment date. Shareholders who hold dematerialised shares will have their accounts at their 
CSDP or stockbroker credited on Monday, 25 July 2022.

By order of the Board

Tony Taylor                         Elizna Read   
Non-Executive Chairman              Chief Executive Officer    

Cape Town
30 June 2022


This short-form announcement is the responsibility of the Board of Directors of the Company and is 
extracted from the Provisional Report and is therefore a summary of the financial information in 
the Provisional Report and does not contain full or complete details of the Company's financial 
results, and is itself not audited. 

Any investment decision by investors and/or shareholders should be based on consideration of the 
full Provisional Report, which has been published in accordance with paragraph 3.46A of the 
JSE Limited Listings Requirements as follows: 

Company's website: https://www.pbtgroup.co.za/investor-relations/#annual_financial_statements
JSE website: https://senspdf.jse.co.za/documents/2022/JSE/ISSE/PBGE/YE2022.pdf

Electronic copies of the Provisional Report and the auditor's report on the 2022 AFS can be 
requested from the Company Secretary at no charge via e-mail at the following address: 
anastassia.sousa@pbtgroup.co.za and are also available for inspection at the Company's registered 
office (by appointment) during office hours. 

The Company's Integrated Annual Report, 2022 AFS and Notice of Annual General Meeting are scheduled 
to be published on 8 July 2022.


PBT GROUP LIMITED
Registered office
PBT House
2 Mews Close
Waterford Mews
Century City, 7441

Sponsor
Questco Corporate Advisory Proprietary Limited

www.pbtgroup.co.za



Date: 30-06-2022 10:30:00
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