Jasco turns fortunes around in FY16
JSE-listed Jasco Electronics on Monday declared a 2c a share dividend as it bounced back into the black with a triple-digit growth in earnings for the year ended June 30.
The group’s profit for the year surged 119.2% to R15.9-million, compared with the loss of R82.8-million reported in the prior year.
The 2016 earnings a share reached 6.3c, up 116.3% on the loss a share of 38.7c reported in 2015. Headline earnings a share increased 163.5% from 2.4c apiece in 2015 to 6.3c a share for the year under review.
Jasco also reported operating profit of R41.7-million in the year to June 30, compared with the operating loss of R72.5-million in 2015.
Revenue for the 2016 financial year decreased by 4.2% to R1-billion, from R1.1-billion in 2015.
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