Hudaco shares rallied nearly 8% in early trade on Friday, after the company posted an improvement in its financial performance and gave an upbeat assessment on its near-term outlook. The small-cap company specialises in the importation and distribution of branded automotive, industrial and electrical consumable products, mainly in Southern Africa. Headline earnings per share rose 5% to R12.22 in the year to November, from the year-earlier period, which was off the revenue of R5.5bn. The consumer-related production division, which houses nine businesses, contributed 51% of sales and 61% of operating profit. The engineering consumables division comprises 20 businesses and accounted for other 49% of sales and 39% of operating profit. "This is a pleasing result given a decline of almost 20% at mid-year and the fact that there was neither a large communication contract nor a load-shedding boost in 2016," the company said in a statement. The company said there were notable improvements in...
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.