NIVEUS, the former gambling and alcohol interests of Hosken Consolidated Investments unbundled into a separate JSE-listing four years ago, cut its final dividend 17%.In a results statement released on Wednesday, Niveus declared a final dividend of 10c, down from 12c the previous year.Added to its 7c interim dividend, the total dividend for the year to end-March came to 17c, down 10.5% from the previous year’s 19c.Aftertax profit fell 40% to R56.6m on a 12% growth in group revenue to R2.5bn.Subsequent to the reporting period, on May 11, Niveus announced it was selling its 57% stake in liquor distributor KWV for R1.15bn to Vasari.Foreign exchange losses of R40m caused KWV’s contribution to headline earnings to fall 35% to R31m, it was noted in the results statement.Revenue from wine sales increased 13%, with volume growth of 8%. Revenue from spirit sales declined 17.5%, despite a 31% decline in volume, mainly as a result of lower bulk spirits sales.Limited pay-out machines operator Vu...
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