KAP Industrial capex projects pay off
CEO Gary Chaplin is pleased with the annual results as revenue and dividend increase
KAP Industrial Holdings raised revenue 23% to R20bn for the year ended June 2017. This derived from efficiencies gained by divisional integration, continued operational streamlining and recent capital investments and acquisitions. Operating profit before capital items from continuing operations shot up 25% to R2.5bn in the period, with headline earnings from continuing operations jumping 15.4%, as the group’s operating margin rose to 12.6% from 12.4% in 2016. But KAP also outlined the difficulties of operating in its industrial, chemical and logistics markets in the context of SA’s struggling economy, despite having posted a slew of positive results in recent years. "We are pleased with the results — it’s quite a mixed bag, with strong performances from [the] industrial and chemicals [segments]," CEO Gary Chaplin said on Monday. However, the group’s logistics operations were disappointing amid poorer fuel, mining and cement markets. That said, the company’s dividend per share was up...
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