Rolfes anticipates H1 earnings growth
JSE-listed Rolfes expects a double-digit increase in earnings for the six months to end December 31.
The chemical group estimated that headline earnings per share (HEPS) would be 25% higher, reaching in excess of 35.4c apiece, compared with the HEPS of 28.4c reported in the corresponding period in 2015.
Earnings per share (EPS) of 35.4c are expected for the period under review, also 25% higher than the 28.3c achieved in the corresponding six-month period the year before.
The company, which plans to publish its results on February 20, 2017, has spent the months from July to November intently focused on increasing market share, improving working capital management, improving operating profit margin performance and increasing the return on capital invested.
Rolfes’s agriculture division posted solid operating profit growth during the five-month period, as South Africa’s drought conditions improved towards the latter part of November.
The group’s food division also experienced operating profit growth on the back of national market share gains in Gauteng and in coastal regions, rising food prices and increased staple demand.
Further, local market share growth, good cost control and effective management of resources contributed to the operating profit growth of the industrial division, while new management and divisional restructuring initiatives bolstered the operating profit of the water division.
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