HCI’s transport subsidiary gets boost from Sibanye purchase
Hosken Passenger Logistics and Rail fully acquired Sibanye Bus Services during the six months to end-September
Hosken Passenger Logistics and Rail (HPLR), the holding company of Golden Arrow, received a boost in its six-months to end-September from ramping up its presence in Cape Town’s public transport network.
HLPR, which is a division of Hosken Consolidated Investment (HCI), acquired the remaining 66.66% stake in Sibanye Bus Services it didn’t hold during the course of the period. This acquisition contributed R47.7m in revenue and R9.7m in profit during the period.
The company’s revenue rose 25.3% to R1.02bn, with headline earnings rising 57.9% to R120.43m. Operating profit rose 40.3% to R234.7m.
The company declared an interim of 14c, unchanged from the prior comparative period.
In morning trade on Thursday HLPR’s share price was unchanged at R4, having fallen 6.98% in the year to date.