KAP still strongly on growth path
KAP’s share tumbled in November owing to its link to Steinhoff, but has since mostly recovered
KAP, a broad-based industrial group, continued its growth trajectory in the interim period to December, enhancing margin growth and cash conversion. Revenue from continuing operations leapt 29% to R11.5bn and operating profit from continuing operations 25% to R1.4bn. Meanwhile, cash generated from operations before working capital was also up 25%, at R2bn as headline earnings per share from continuing operations rose 11%. “We are really pleased with the results,” KAP CEO Gary Chaplin said on Monday. He said the group had taken a slow and methodical approach to growth through the sale of nondiscretionary consumer items. The company has forestry and timber manufacturing operations, makes vehicle accessories and components, and produces bedding products. It also has a diversified chemicals business making high-density polyethylene (HDPE), polypropylene (PP) and polyethylene terephthalate (PET), and also industrial resins. The group also operates specialised supply chain and logistics s...
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