https://www.engineeringnews.co.za

Imperial posts lower H1 earnings

Imperial posts lower H1 earnings

Photo by Bloomberg

24th February 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JSE-listed Imperial on Tuesday posted lower earnings for the first half of the 2015 financial year, on the back of a delayed impact of a weakening rand.

The group’s headline earnings per share declined 9% to 759c, while earnings per share (EPS) fell 18% to 738c during the six months to December.

Core EPS declined 14% to 803c.

Imperial attributed its reported 9% decrease in operating profit to R2.87-billion to depressed margins caused by the delayed impact of a weakening rand on the competitiveness and profitability of the vehicle import, distribution and dealership division.

“The profitability of the logistics international division was depressed by low and declining activity levels in most Eurozone logistics sectors and the financial services division's results were depressed by weaker equity markets in our insurance business,” the company commented.

However, an “excellent” performance by Logistics Africa and a “pleasing” performance by the vehicle retail, rental and aftermarket parts division partially offset the declines.

Revenue during the interim period under review was up 9% to R56.2-billion, mostly owing to acquisitions.

Cash flow from operating activities was up 73% to R1-billion.

Imperial declared an interim dividend of 350c a share.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

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:0.093 0.144s - 167pq - 2rq
Subscribe Now