Nu World reports 10.4% increase in interim earnings
Revenue falls 8.9% as company expect tough trading conditions to continue
Nu World, the distributor of electronic brands such as Telefunken, Sunbeam and Aiwa, reported a 10.4% rise in headline earnings per share to 388.7c for the six months to February.
Net income rose to R85m from R76.6m thanks to additional cost controls that resulted in the reduction in overheads, the introduction of new products and also the appreciation in the rand against the US dollar. The company increased net asset value per share by 4.6% to R63.04...