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     Results Comment: Glenrand MIB Ltd
     GLENMIB [GMB] (Suspended)
    Link to Co Web Site Thu 21 Apr 2011
    Close: 1c No Movement
    Day's move: 0c (0.00%)
    Volume: 0
    Trades:  0
    Quick Facts
     Comment: Wed, 8 Dec 2010
    Glenrand final results 30 September 2010
    During the fifteen month period to 30 September 2010 the group improved its broking margin from 4.2% in the 2009 financial year to 5.5%. The group increased broking profit during the fifteen months to 30 September 2010 to R36 million. During the period to 30 September 2010 the group achieved revenue of R652.6 million. The group posted headline earnings per share of 18.3cps for the fifteen months (twelve months to June 2009: 11.5cps)

    Dividend
    A capitalisation award with a cash dividend alternative of 3 cents per ordinary share was declared as payable on 10 May 2010. The decision on the declaration of a final dividend has been postponed in view of the cautionary announcement of 17 November 2010 on SENS.

    Change of Year-end
    The group has changed its financial reporting date to 30 September and we are now reporting on a fifteen month period. On 10 September 2010 the group released Reviewed Condensed Results for the twelve months ended 30 June 2010.

    Outlook
    During the period we incurred increased expenditure on planned IT and brand marketing spend with good progress having been made in cutting costs previously absorbed by our discontinued businesses. Accordingly, we expect our broking margin to improve. Shareholders are reminded that the company continues to trade under a cautionary.
     
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    Closing price data source: JSE Ltd. All other statistics calculated by ProfileData.
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