According to Engineering News – JSE-listed Sephaku Holdings on Thursday posted a surge in basic earnings a share to 12.49c and headline earnings a share to 12.36c for the six months to September 30, from a respective 9.20c and 9.12c apiece in the corresponding period the year before.
For the six months under review, Sephaku achieved group net profit of R25.2-million, compared R18.51-million in the prior comparable period. Revenue dipped 3% to R448-million, owing to a reduction in mixed concrete volumes during the six months. Subsidiary Metier Mixed Concrete‘s gross profit margin was 0.3% lower at R180.59-million as a result of raw material costs increasing more than pricing; however, the unit maintained an earnings before interest, taxes, depreciation and amortisation margin of 15%.
The subsidiary’s earnings before interest and taxes contracted 13% during the half-year under review to R56.9-billion. Sephaku associate Dangote CementSouth Africa netted the group an equity accounted profit of R970 000 for January to June, compared with the R8.78-million loss during the six-month period ended June 30, 2015.
