ARB maintains growth in tough environment
JSE-listed ARB Holdings on Thursday posted a 34% hike in headline earnings per share (HEPS) to 37.62c for the six months ended December 31, mostly owing to a put option International Financial Reporting Standards (IFRS) adjustment.
Nearly 21%, or 5.88c, of the HEPS increase was the positive result of a R13.8-million decrease in the IFRS fair value of the put option liability arising from the option issued to the minority shareholders in 60%-owned Eurolux.
“The electrical division was able to grow its turnover marginally in an extremely challenging market, through the expansion of its Connect branches and the successful pursuit of a number of projects, while the lighting division's turnover decreased owing to retail customers dropping stock levels in line with a decrease in demand,” the investment and property holding company said.
ARB reported a 2.8% increase in operating profit to R107-million in the interim period under review, with an operating margin of 8%.
“Changes in the product mix and the emphasis on trading disciplines ensured that gross profit margin was maintained in a tough trading environment,” it added.
Half-year revenue ticked up 5.4% to R1.34-billion, with the electrical division producing an 8.7% rise to R1.1-billion, offset somewhat by a 6.1% decrease in revenue to R254.2-million from the lighting division.
The electrical division produced operating profit of R70.9-million during the six months to December 31, up 12.8% on the prior corresponding period.
In comparison, the lighting division reported a 17% decline in operating profit to R26.9-million during the half-year under review.
“The group continues to be cash generative, is ungeared and has net cash-on-hand of R226.6-million, after the payment of dividends during the reporting period of R118.7-million,” ARB noted.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation