https://www.engineeringnews.co.za

Iliad half-year earnings decline

27th August 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JSE-listed building materials group Iliad Africa on Tuesday reported a drop in headline earnings, from 20c a share during the first half of 2012, to 0.4c a share for the six months ended June 30, 2013.

Earnings a share moved into the red, recording a loss of 39c during the six months under review, compared with the earnings a share of 20.1c achieved in the corresponding prior half-year.

Iliad pointed out that the results for the six months to June included the R70.2-million fair value adjustment on available-for-sale assets relating to the disposals of the Timber Wholesale and Ceramics businesses; a R6-million loss on disposal of Ceramics Cash & Carry business components; and the restructuring cost of R14.7-million in respect of the rationalisation of two underperforming stores.

Earnings before interest, tax, depreciation and amortisation (Ebitda) fell from R66.5-million in the six-month period ended June 2012, to R50.8-million in the period under review. Excluding adjustments, Ebitda reached R77.7-million for the 2013 half-year, down from R80.6 million during the corresponding period in 2012.

Revenue remained flat at R2-billion on the back of a subdued trading environment, marginal building plan recovery and the slowdown in the finishing end of the industry.

“The building materials supply industry remains competitive and although it has been challenging to operate in the industry over the past few years, the company’s ongoing focus on procurement and improving cost structures has countered these conditions to some extent,” said Iliad CEO Eugene Beneke.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.112 0.172s - 150pq - 2rq
Subscribe Now