Sharechat Logo

Just Life Group Limited (NZX: JLG) Interim Report & Announcement of Interim Dividend

Friday 26th February 2021

Text too small?

Chair and Chief Executive Officer’s Report

The first half of the FY2021 year was the most dramatic six months in the recent history of the Group. We restructured the company in June 2020, merging the businesses of Just Water and Hometech into the Just Life Group. The management focus was to turn this merged group into a ‘well-oiled machine’, which has now been achieved.

As previously advised, FY2021 revenue was always going to be significantly reduced. Fortunately, the revenue decrease was held to only 9%. With our reduced operating costs as a result of the restructure plus three months’ trading results from The Cylinder Guy, we are pleased to be able to report an increase in earnings.

In summary, after-tax earnings for the period were $1.6 million, compared to $1.4 million during the corresponding period in the prior year, an increase of 16%. This was an increase in earnings per share from 1.6 cents to 1.8 cents.

Statement of Financial Position highlights

Shareholder equity increased from $16.5 million at 31 December 2019 to $18.9 million at 31 December 2020. (At 30 June 2020, shareholder equity was $17.7 million.)

During the past year the interest-bearing debt levels of the Group relative to its total assets reduced from 30% of total assets as at 31 December 2019, to 24% as at 30 June 2020 and reduced further to 23% at 31 December 2020. This provides us with ongoing headroom to borrow funds if we believe it is appropriate to do so.

Cash flows from operating activities were $3.3 million for the six months to 31 December 2020 compared to $2.0 million for the same period last year. Free cash flow increased from $1.3 million for the six months to 31 December 2019 to $2.9 million for the six months to 31 December 2020.

Shareholder interim dividend

The Company’s earnings for the first six months of FY2021 are 16% ahead of the corresponding period in the previous year, primarily as a result of operating efficiencies, and the restructure in June 2020. The directors have decided to declare an interim dividend of 1.0 cent per share (2020 – 1.0 cents), with a record date of 12 March 2021 and payment date of 19 March 2021.

Please see the links below for details:

Chairman & CEO Report Dec 2020

Interim Report 31 Dec 2020

Interim Dividend Distribution Notice

JLG 31 Dec 2020 Financial Results Announcement

Source: Just Life Group Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report