Group Five announces improved earnings
While Group revenue remained largely unchanged at R13,8 billion, Core operating profit increased by 111,4 percent from R348,4 million to R736,5 million.
Headline earnings per share (HEPS) of 335 cents represents an increase of 63,6 percent and fully diluted HEPS (FDHEPS) of 335 cents per share an increase of 64,2 percent compared to the HEPS and FDHEPS of 205 cents and 204 cents per share respectively for F2015.
“These results bear testimony to our strategy of investing and operating across the infrastructure value chain, which enables the generation of an improved blended group operating margin and the delivery of annuity income to deliver sustained returns,” says Group Five Chief Executive Officer, Eric Vemer.
He says following a period of introspection and cost-reduction, their attention is again more firmly focused outwardly on target markets and securing the orders that will deliver the value-enhancing growth management seek, while improving their returns on capital employed across the group.
“Alongside our South African focus, we have a clear geographic strategy of expanding into high-growth countries in the rest of Africa and Europe. Our localisation strategy is organic, which does not require material capital investment.”
– CAJ News
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