IMPERIAL: 4,120 +144 (+3.62%)
South Africa's Imperial annual profit rises on acquisitions, sales
(Adds details, background)
JOHANNESBURG, Aug 21 (Reuters) - South African transport
group Imperial Holdings reported a 27 percent rise in
annual earnings on Tuesday, buoyed by acquisitions, higher
vehicle sales and a strong performance in its auto dealership
Imperial, which also has operations in Europe, reported
basic headline earnings per share (HEPS) for the full year
ending June 30 of 1,570 cents, up from 1,240 cents a year
Headline EPS, the most widely watched profit gauge in South
Africa, strips out certain one-off items.
Full-year Imperial sales rose 11 percent to 128.7 billion
rand ($8.8 billion).
Imperial, which trades in 33 countries, is spinning off its
Motus auto dealership business, the latest move in a strategic
shake-up that will a create a separately listed entity.
Motus reported operating profit of 3.5 billion rand, up 9
percent, while the logistics division saw a rise of 3 percent to
2.8 billion rand.
The Johannesburg-based company said it was concerned that
U.S. tariffs on Chinese products could hurt the trading
environment for its international operations, which include
businesses in the eurozone, Britain and Australia.
Imperial's international operations generate 46.9 billion
rand or 36 percent of group revenue.
($1 = 14.6363 rand)
(Reporting by Nqobile Dludla
Editing by Sherry Jacob-Phillips and Edmund Blair)
© 2020 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.