Colcom declares dividend

Colcom declares dividend
Published: 06 March 2014
Colcom Holdings Limited group has declared an interim dividend of US0,4c per share after posting a 86 percent increase in profit after tax for the six months to December 31 2013.

In a statement, Colcom said the dividend will be paid by April 4 to shareholders registered in the company's books at noon on March 21 2014.

Profit after tax for the period was $2,2 million up from $1,17 million during the previous year resulting in an increase in the earnings per share.

Basic earnings per share went up 68 percent to US1,20c from US0,71c in the comparable period while headline earnings per share also went up 64 percent to US1,19c in the period under review from US73c.

The group's revenue experienced a 13,3 percent increase from $29,9 million in the previous year to $33,9 million in 2013.

In terms of volumes, the group achieved an overall growth of 17 percent over the prior period with Colcom Foods recording a 33 percent decline in volumes while Associated Meat Packers achieved a 115 percent growth in the period under review.

The decline in volumes at Colcom Foods was attributed to the rationalisation of product lines and the closure of the frozen pies division.

Colcom was in a strong cash position for the period primarily due to the reduction of the company's strategic reserve of stock feed.

The group's total assets stood at $40,5 million up from $37,2 million in the prior year while total liabilities were $11,6 million compared to $10,5 million in the same time in 2012.

Colcom said it had extended the commissioning of its factory equipment worth $1,4 million to March due to delays in the delivery of the equipment.

The company said it was working on modernising its facilities.
- bh24
Tags: Colcom, Dividend,

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