ARB Holdings results ‘satisfactory’ in challenging conditions
Electrical wholesaler and lighting distributor ARB Holdings reported a strong half-year performance thanks to a R13.8m drop in the fair value of a put-option liability issued in favour of minority shareholders of its Eurolux division. The fair value was sensitive to movements in the company’s share price, the company said. Headline earnings per share for the six months to December rose 34% to 37.62c. CEO Billy Neasham said the put option would not be exercised at the company’s current share price. ARB is an investment and property holding company with assets across related trading and distribution businesses. This includes 74% of ARB Electrical Wholesalers, a level 2 black-empowered company, operating 22 electrical wholesale branches throughout SA, and also 60% of Eurolux, which imports and distributes light fittings, lamps and related accessories. The group derives about 10% of turnover from Southern African countries.