ARB Holdings says it has maintained revenue at R2.5bn in the year to June 2017, growing after-tax profit 7% to R171m while managing cash resources tightly in a cash-strapped market. Headline earnings per share crept up 3.6% amid a poor economy that has squeezed the group’s main electrical business and also consumers of its retail lighting products. But it remains ungeared, with R307m in cash. "In the current economy, it’s very difficult to shoot the lights out," CEO Billy Neasham said on Friday. Electrical division revenue was held back by limited government infrastructure spend in the year and the fall in mining and manufacturing. "This is where a lot of pressure has come in the last year," Neasham said, also referring to municipal by-elections in February, which contributed to a decline in local government infrastructure spending. The retail lighting division was affected negatively, especially in the second half of the financial year when the economy entered recession. The group ...

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