ELB to focus on IoT for service optimisation

5th October 2018

By: Marleny Arnoldi

Deputy Editor Online

     

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JSE-listed capital equipment supplier and services provider ELB Group reported a 35% increase in profits to R111-million for the financial year ended June 30, compared with R82-million in the prior year.

This was on the back of higher sales across all group segments – sales increased by 50% to R3.7-billion in the period under review, compared with R2.4-billion in the prior year – and continuing improvements in market penetration within the company’s equipment and Australasia segments.

Headline earnings per share increased by 40% to 341c apiece, compared with 243c in the prior year.

ELB declared a final cash dividend of 50c apiece.

The company experienced delays with the start of some of its major engineering projects, but has a resilient order book, despite the tough trading conditions in the market at the moment.

Meanwhile, ELB has embarked on a strategy to increase its know-how and technology-focused solutions by pursuing exponential technology-focused opportunities and partnerships.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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