Reunert expects improved full-year performance following solid interim results
JSE-listed industrial group Reunert’s revenue increased by 11% year-on-year to R5.1-billion for the six months ended March 31, while operating profit increased by 4% to R465-million.
The group’s profit after tax increased by 7% to R331-million, while headline earnings a share climbed 1% to R1.95 apiece and earnings a share by 1% to R1.96 apiece.
As such, Reunert’s interim dividend a share grew by 7% to 75c apiece.
Reunert has three operating segments – electrical engineering, information and communications technology (ICT) and applied electronics.
Group CEO Alan Dickson says the group’s performance in the first half positions it to benefit from its strong export order books, and improving electrical engineering and ICT businesses, to deliver an improved full-year performance.
The electrical engineering segment delivered a 7% year-on-year reduction in operating profit to R151-million, while the ICT businesses held steady growth with operating profit rising by 4% to R305-million.
The applied electronics segment’s profitability recovered strongly, with profitability rising by 77% to R55-million in the period under review.
Group CFO Nick Thomson adds that Reunert’s management team's ability to identify and secure opportunities, as well as to manage their business units’ cash flows and operating costs during challenging times, disrupted supply chains and high commodity prices, resulted in a strong balance sheet.
“This financial strength allows us to go forward with confidence, to execute our strategy, to grow our businesses organically and to drive further growth through acquisitions in the ICT segment and through opportunities to invest in renewable energy,” he says.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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