KAP, a diversified industrial group, increased revenue and headline earnings per share substantially over its interim reporting period to December, highlighting solid growth and margins. CEO Gary Chaplin said on Monday that despite an extremely tough operating environment, the core logistics business performed well by positioning itself in nondiscretionary spending markets — fuel and agriculture — as well as by rationalising operations. "It’s a rewarding set of results driven by organic growth and all the technology upgrades that we have done," Chaplin said. The logistics segment also operates in the mining and freight industries and intercity passenger and commuter transport services. The manufacturing businesses involve the timber, chemical, automotive and bedding industries. KAP has invested heavily in technology upgrades and in plant expansions. Group revenue grew 10% to R9bn in the period. Operating profit shot up 24% to R1.1bn, while headline earnings per share soared 18%. The...
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