INDUSTRIAL engineering holding company PSV Holdings lifted diluted headline earnings per share from 1.66c to 1.99c for the six months ended August, it revealed on Monday.This was achieved on the back of 34% growth in revenue, from R168.6m to R225.5m.PSV attributed the growth to "improving market conditions and additional working capital injected back into the business from proceeds derived on the sale of PSV Mitech Control Valves (Mitech)".It said the gross profit margin had shrunk primarily due to reduced margins in its Engineered Linings and Turbo Agencies businesses."Although operating costs are in line with the previous period, the business has grown 34% and operating costs as a percentage of turnover has decreased 24.5% to 14.1% (August 2012: 18.6%)," it said."The decrease is largely due to the continual assessment of cost-cutting measures implemented at head office and the disposal of loss-making operations."The group’s earnings before interest, tax, depreciation and amortisat...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.