YEAR-END RESULT
Buyout helps Reunert to lift profit
Reunert posted 14% growth in operating profit and 19% growth in profit for the year ended-September, helped by the buyout of wire and cable manufacturer Metal Fabricators of Zambia (Zamefa). Group revenue jumped 15% to R9.8bn with headline earnings per share leaping 19%, but 5% on a normalised basis. The information and communications technology (ICT) and electrical engineering divisions drove growth, Mish-al Emeran of Electus Fund Managers said. “Overall, I think it is a good result, given the competitive landscape and state of the economy,” he said. In the ICT division, Emeran said that office solutions provider Nashua and voice and data services business ECN reported flat revenues. But margin gains from cost efficiency and the stronger rand supported hardware margins in Nashua. Emeran said Reunert’s electrical engineering division had benefited from organic growth, especially in the Telecom Cables unit, which reported strong production volume growth from the roll-out of fibre opt...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.