United Service Technologies (Uniserv), which last night reported its full-year results, is to pay its shareholders a dividend of 12.5c a share.
Uniserv`s only interest is a 30% stake in Nasdaq-listed UTi Worldwide, a global supply chain solutions provider.
UTi grew strongly in the year to 31 January, with net income rising by 53% to $44.8 million from R29.3 million a year earlier. However, the strengthening rand, in addition to the issue of additional shares by UTi at the end of the 2003 financial year, dampened Uniserv`s results.
Income attributable to UTi slipped from R150.55 million to R132.11 million while a pre-tax profit of R129.5 million compares with a previous R147.06 million profit.
Uniserv`s net income fell from R102.31 million to R99.07 million. Basic and headline earnings per share fell from 187.4c to 181.5c.
However, chairman Tiger Wessels says value of the group`s investment in UTi increased by 43% from R1.88 billion to R2.7 billion.
The Uniserv share was untraded at R35.75 on the JSE at midmorning today.
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