JSE-listed Reunert on Monday posted a 50% drop in earnings per share (EPS) for the financial year ended September 30.
EPS plunged from 1 202c in 2014 to 604c in 2015 as Reunert absorbed the impact of its disposal of Nashua Mobile and the nonrecurring profit on the sale of its subscriber bases.
However, headline earnings a share rose 16% to 588c, while earnings before interest, taxes, depreciation and amortisation increased 14% to R1.3-billion.
Profit for the year, which contracted 49% to R1-billion, had been weighed down by a 97% plunge in profit from discontinued operations – a decline that a 146% surge in profit from continued operations to R959-million was unable to offset.
Operating profit for the year under review rose 15% to R1.17-billion, with revenue for the period up 7% to R8.3-billion.
The group’s CBI-electric division reported a 14% rise in revenue to R4.1-billion, while operating profit increased 21% from R428-million to R520-million during the 12 months under review.
Revenue from the Nashua division fell 42% to R4-billion, while operating profit declined 9% to R577-million.
Reutech increased its revenue by 8% to R1.1-billion and operating profit by 6% to R181-million.
Reunert declared a dividend of 302c for the year.