Burgersdorp - CMW
CMW declares a full year operating profit of R21.6 million for year ended 30 June 2008
( 17 Oktober 2008 )
The holding company of CMW, SA Mohair Brokers Limited, today declared an operating profit of R21.6 million. This equates to a R2.9 million increase, representing a 15% increase on the prior year’s performance.
Earnings per share increased by 19.25% to 50.8 cents.
CMW’s profit before taxation (PBT) increased by 6.7% to R10.7 million. This increase is even more significant when seen against the background of ever increasing input costs. This significant increase has once again been fueled by improved fibre prices, increased fibre market share, and the expansion of its Livestock, Property and Trading divisions’ footprints. CMW’s wool volume has increased with 6.8% and national mohair market share has risen by 4% to 68%. Good organic growth has been seen in the livestock business with an increase of 12% in sales value and an increase of 8.3% in units sold. The average R/Unit price in the property division has increased with 112.7% to R2,791,666 per unit sold.
CMW achieved sales in excess of R1.3 billion during the year.
Financial results summary - See www.cmw.co.za
The management under Philip Nieman’s leadership, who took over the reins of the company in July 2007, is committed to build on the previous year’s achievements.
The year ahead
At this early stage in the new financial year, CMW expects the overall EBIT result to be significantly better than the prior financial year.
The medium term outlook for the business is positive. CMW remains focused on its key objectives of: enhancing performance through aggressive control of costs, improving productivity, optimizing capital and seeking out and developing new growth opportunities.
Foto onder (FOTO TO FOLLOW): Philip Nieman (Besturende Direkteur) en Nigel Hamilton-Smith (Hoofbestuurder: Finansies en Admin)
Nigel Hamilton-Smith, Company Secretary,
Tel: +27 41 4067500 / Cell: +27 (0) 82 854 9112
CMW WOOL MARKETING
Top price reached at official CMW wool auction held on 2008/09/23:
A W Pocock of Burgersdorp for 1 bales of 17.4 mic AH sold at R59-10.
Top price reached at official CMW auction held on 2008/10/01:
D G Forbes of Burgersdorp for 1 bales of 17.6 mic BH sold at R65-70.
CMW Operations (Proprietary) Limited (“CMW”) and Elite Afslaers Close Corporation (“Elite”) have been in discussions with regard to CMW acquiring the livestock and auctioneering business of Elite.
CMW and Elite are pleased to confirm that an agreement has been reached with regard to the acquisition of the Elite livestock and auctioneering business by CMW. The effective date of takeover is 1 November 2008.
This agreement is subject to finalisation, inter alia, of the appropriate agreements and to regulatory approval if so required and the appropriate advertisements.
CMW Operations (Eiendoms) Beperk (“CMW”) en Elite Afslaers Beslote Korporasie (“Elite”) het in gesprek getree ten opsigte van die aankoop deur CMW van die lewendehawe en afslaers besigheid van Elite.
CMW en Elite kan nou bevestig dat ‘n ooreenkoms bereik is ten opsigte van aankoop van die Elite lewendehawe en afslaers besigheid deur CMW. Die effektiewe datum van oorname is 1 November 2008.
Hierdie ooreenkoms is onderhewig aan die finaliseering, onder andere, van die gepaste ooreenkomste en reguleerende goedkeuring indien so benodig en die gepaste advertensies.