KAP lifts full-year revenue, but profit tracks lower

20th August 2019 By: Schalk Burger - Creamer Media Senior Contributing Editor

Diversified industrial company KAP Industrial Holdings has grown its revenue for the financial year ended June 30 by 12% year-on-year to R25.6-billion, but operating profit decreased by 13% to R2.5-billion.

In a SENS announcement that contained extracted financial information from the audited financial results for the year, published on Tuesday, KAP said its headline earnings a share fell by 25% year-on-year to 45.9c from 61.6c in the prior financial year.

The group also announced that earnings a share had decreased by 34% to 38.3c from 57.7c.

However, the net asset value a share increased by 4% to 474c a share, from 454c in the prior corresponding period.

The company also announced a dividend of 23c a share, which was unadjusted from the prior corresponding period and which would be paid on September 23.

KAP is set to hold its financial results presentation on Wednesday.