Hudaco sales rise but profit remains stagnant
JSE-listed Hudaco Industries posted a 14% rise in sales and an 8% increase in operating profit during the six months to May 2013, the company reported on Friday.
The group achieved turnover of R1.8-billion during the interim period, up from the R1.59-billion recorded in the prior corresponding period.
Operating profit reached R195-million during the six months to May 2013, compared with R181-million in the six months to May 2012.
While total comprehensive income rose 2% to R148-million, profit for the period remained flat at R143-million.
Basic and headline earnings a share were 448c during the first half under review, up from 441c in the corresponding period the year before.
“The group continues to deliver satisfactory results in an uncertain and difficult economic environment. In particular, mining activity continues to be beset by work stoppages and exchange rate volatility makes pricing difficult,” the company said in a statement.
Hudaco’s units serving underground mining, particularly platinum and gold, had been hard hit by work stoppages since August last year. Sales volumes in these sectors had only started to recover towards the end of the first half, the company noted.
Sales volumes in opencast mining, mainly coal and iron-ore, remained “closer to normal levels” as these sectors were not impacted as much by the stoppages.
The company pointed out that the good performance of the consumer-related products segment had offset the weak performance in the engineering consumables segment.
Hudaco declared a dividend of 155c a share for the first half of 2013.
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
Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.
VISIT SHOWROOM
Press Office
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
