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Vunani results improve on back of revised strategy

6th October 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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Financial services group Vunani on Thursday reported pleasing interim results, which reflected the impact of management’s strategic business decisions over the last few years.

Its basic earnings a share rose to 13.4c for the six months to August 31, compared with the 3.1c reported in the six months to August 31, 2015. Headline earnings a share also increased from 3c in the prior comparable period to 11.5c in the period under review.

Profits rose to R15.4-million from R3.8-million in the prior comparable period.

Vunani CEO Ethan Dube said, overall, the business was now strategically well positioned for sustainable growth. “We will achieve this mainly through organic growth across the businesses in South Africa and across the sub-Saharan African operations.

“While our priority remains to optimise the acquisitions already made, we will not ignore acquisitive opportunities that present financial or strategic value for shareholders,” he added.

Dube highlighted that the company would continue to strive for further improvement and management of its margins and to leverage the organisational structure for sustainable growth, both locally and on the continent.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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