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BRIEF-Barloworld Says To Consider Dividend Resumption, Capital Reduction In May Board Meeting

PUBLISHED: Wed, 31 Mar 2021 05:15:50 GMT

March 31 (Reuters) – Barloworld Ltd:

* JSE: BAW – BAWP – PRE-CLOSE TRADING UPDATE FOR THE PERIOD UP TO 28 FEBRUARY 2021

* BARLOWORLD – GROUP’S TRADING RESULTS ARE PLEASING WHEN COMPARED TO SAME TRADING PERIOD IN PRIOR YEAR

* BARLOWORLD – WHILST TRADING CONDITIONS REMAIN AFFECTED BY COVID-19, BARLOWORLD’S BUSINESSES HAVE ADJUSTED TO NEW OPERATING CONDITIONS.

* BARLOWORLD – GROUP HAS MADE GOOD PROGRESS IN ALL AREAS OF STRATEGY TO SUSTAINABLY DOUBLE ITS INTRINSIC VALUE EVERY FOUR YEARS

* BARLOWORLD – EQUIPMENT SOUTHERN AFRICA’S TOTAL REVENUE WAS DOWN 4.9% FOR FIVE MONTHS TO 28 FEBRUARY 2021 COMPARED TO PRIOR YEAR

* BARLOWORLD – GROUP’S SHORT-TERM PRIORITIES WILL BE ON INTEGRATION AND EXTRACTING VALUE FROM OUR RECENT ACQUISITIONS OF EQUIPMENT MONGOLIA AND INGRAIN

* BARLOWORLD – GROUP IS MINDFUL OF CAPITAL ALLOCATION AS PART OF ITS OVERALL STRATEGIC OBJECTIVES

* BARLOWORLD – BOARD WILL BE CONSIDERING RESUMPTION OF DIVIDEND AND CAPITAL REDUCTION AT MAY BOARD MEETING.

* BARLOWORLD – TOTAL EQUIPMENT FIRM BACK ORDER REMAINS STRONG AND AMOUNTED TO R2.2 BILLION AT END OF FEBRUARY 2021

* BARLOWORLD SAYS HY-END GROUP’S NET DEBT POSITION (EXCLUDING IFRS 16) HAS INCREASED TO R6.8 BILLION (R2.6 BILLION AT SEPTEMBER 2020) Source text for Eikon: Further company coverage:

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