Bell Equipment interim HEPS leap as firm declares 20c a share dividend
On Thursday, Bell Equipment said headline earnings per share (HEPS) rose 78% in the six months to June, with the heavy-equipment distributor declaring an interim dividend of 20c. The dividend represents a 33% increase on the 15c declared in the previous comparative period, with the company saying trading conditions had improved in most of its global markets. Net profit after tax increased 86% to R119.6m, with HEPS increasing to 119c. The outlook for growth from our mining sector, and commodity markets in SA, Australia and Russia was positive, with a slow recovery evident, the company said. The UK and US remained key markets with relatively stable sales, given the significant political changes and resultant uncertainty over the period, it said. On Tuesday the company issued a trading statement saying that its HEPS may increase by up to 87%. At 3.22pm Bell’s share price was down 0.47% to R10.50.
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