Sephaku achieves double-digit H1 growth
JSE-listed Sephaku Holdings on Thursday posted a surge in basic earnings a share to 12.49c and headline earnings a share to 12.36c for the six months to September 30, from a respective 9.20c and 9.12c apiece in the corresponding period the year before.
For the six months under review, Sephaku achieved group net profit of R25.2-million, compared R18.51-million in the prior comparable period.
Revenue dipped 3% to R448-million, owing to a reduction in mixed concrete volumes during the six months.
Subsidiary Metier Mixed Concrete's gross profit margin was 0.3% lower at R180.59-million as a result of raw material costs increasing more than pricing; however, the unit maintained an earnings before interest, taxes, depreciation and amortisation margin of 15%.
The subsidiary’s earnings before interest and taxes contracted 13% during the half-year under review to R56.9-billion.
“The mixed concrete supply market continued to be characterised by intense competition and downward pricing pressure,” Sephaku pointed out.
Sephaku associate Dangote Cement South Africa netted the group an equity accounted profit of R970 000 for January to June, compared with the R8.78-million loss during the six-month period ended June 30, 2015.
Dangote’s financial year-end is December 31.
The cement associate’s revenue increased 13% to R1.15-billion and recorded a net profit of R2.68-million during the first half to June 30.
Meanwhile, Sephaku reported a significant decline in imports, with only 156 000 t imported by the end of June, compared with the 500 000 t recorded in the comparative period.
“The cement market continued to be characterised by price competition but appears to be stabilising following the implementation of price increases by all producers in the third quarter. The bagged cement market continues to perform better than that of bulk cement as the large construction projects dwindle,” Sephaku said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...
VISIT SHOWROOM
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
