JSE-listed Sephaku Holdings achieved a mixed performance for the financial year ended March 31, with its Métier subsidiary having delivered strong growth in revenue and profit, but SepCem having been negatively impacted on by deteriorating economic conditions and persistent challenges in the cement industry.
FD and outgoing CEO Neil-Crafford Lazarus pointed out that the impact of global challenges on the South African economy had been exacerbated by factors such as unreliable power supply, limited public sector infrastructure investment and socioeconomic instability which have restricted a return to pre-Covid levels of economic growth.
The group's net profit decreased to R26-million, from R45-million in the 2022 financial year, while normalised headline earnings a share decreased to 10.53c, from 17.67c the year before.
SepCem posted a net loss of R4-million, compared with a net profit of R82-million the year before, while its earnings before interest, taxes, depreciation and amortisation (Ebitda) decreased to R279-million from R375-million the year before.
Métier's net profit increased to R43-million, from R30-million in the prior year, and its Ebitda to R98-million, from R75-million the year before.