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Audited Consolidated Results of the Group for the year ended 29 February 2024
FINBOND GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2001/015761/06)
Share code: "FGL" ISIN: ZAE000138095
("Finbond" or "the Company" or "the Group")
AUDITED CONSOLIDATED RESULTS OF THE GROUP FOR THE YEAR ENDED 29 FEBRUARY 2024
HIGHLIGHTS
• Revenue increased by 22.8% to R1.58 billion (February 2023: R1.28 billion*).
• Gross consumer loans and advances increased by 10.4% to R1.06 billion (February 2023: R962.0 million*).
• The value of loans advanced increased by 13.5% to R7.02 billion (February 2023: R6.18 billion*).
• The number of loans advanced increased by 5.8% to 1.4 million (February 2023: 1.3 million*).
• Total assets increased by 6.4% to R4.28 billion (February 2023: R4.02 billion*).
• Headline earnings per share ("HEPS") improved by 97.7% to a loss of 0.4 cents per share (February 2023: loss
of 19.1 cents per share*).
• Basic earnings per share improved by 100.2% to a profit of 0.1 cents (February 2023: loss of 32.8 cents per
share*).
* Results for the 2023 financial year have been restated. Please see additional information in the notes to the
audited financial statements in the full announcement.
With planned growth in mind, as well as considering the Group's ongoing and slower recovery from COVID and the
impact of Illinois regulatory change in 2021, the board has decided not to declare a dividend for the financial year
ended 29 February 2024 (February 2023: no dividend).
The auditors, BDO South Africa Inc., expressed an unmodified audit opinion on the Group's audited financial
statements in their report dated 31 May 2024. The report also includes communication of key audit matters. Key
audit matters are those matters that, in their professional judgement, were of most significance in their audit of
the consolidated financial statements of the current period. The full audit report and the Group's audited financial
statements are available on the company's website at https://finbondgroup.com/financialresults.html
SHORT-FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the directors and is a summary of the information in the full
announcement, and accordingly, does not contain comprehensive details. The full announcement was published
on SENS on 31 May 2024 and can also be accessed online at
https://senspdf.jse.co.za/documents/2024/JSE/ISSE/FGL/FGLYE2024.pdf.
Copies of the full announcement may also be requested at the Company's registered office or the office of the
sponsor, at no charge, during office hours. Any investment decision by shareholders and/or investors should be
based on consideration of the full announcement.
The Group's Annual Report containing the audited financial statements and notice of annual general meeting will
be distributed to shareholders on or before 28 June 2024.
By order of the board
DR MALESELA MOTLATLA DR WILLEM VAN AARDT
Chairman Chief Executive Officer
31 May 2024
Year ended Year ended %
29 February 2024 28 February 2023* Change
Revenue (R'000) 1 575 340 1 283 114 22.8
Basic earnings/(loss) per share (cents) 0.1 (32.8) 100.2
Diluted earnings/(loss) per share (cents) 0.1 (32.8) 100.2
Headline (loss)/earnings per share (cents) (0.4) (19.1) 97.7
Diluted Headline (loss)/earnings per share
(cents) (0.4) (19.1) 97.7
Dividend per share (cents) - - -
Net asset value per share (cents) 182.2 99.8 82.6
* Results for the 2023 financial year have been restated. Please see additional information in the notes to the
audited financial statements in the full announcement.
Directors: Chairman: Dr MDC Motlatla* (BA, DCom (Unisa)); Chief Executive Officer: Dr W van Aardt (BProc (Cum
Laude), LLM (UP), LLD (PU CHE) Admitted Attorney of The High Court of South Africa, QLTT (England and Wales),
Solicitor of the Supreme Court of England and Wales); Chief Financial Officer: GW Labuschagne (CPA (CA), BCom
(Hons Acc), BCom (Fin Acc) (Cum Laude)); HJ Wilken-Jonker* (BCom Hons (Unisa), MConSci (UP)); PA Naudé*(BCom
(Marketing), Gaining Competitive Advantage (Michigan), IEP (INSEAD))*; Adv. N Melville* (BLaw, LLB (Natal)
LLM(Cum Laude) (Natal), SEP (Harvard)); DC Pentz* (B Com (Hons), (Chartered Accountant (SA), AEP (Unisa)); SM
Riskowitz* (BCom (Wits))
*Non-executive
Secretary: B Bredenkamp (BCom Accounting, LLB, MBA)
Transfer secretaries: JSE Investor Services (Proprietary) Limited (Registration number 2000/007239/07), One
Exchange Square, 2 Gwen Lane, Sandown, Sandton, 2196
Sponsor: Grindrod Bank Limited
Date: 31-05-2024 09:00:00
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