Rolfes interim operating profit up 62%

Published Feb 21, 2017

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Durban - Rolfes Group on Monday reported a 62 percent increase in operating profit to R97 million for the six months to the end of December.This is as diversification and an increase in its geographical footprint into various markets paid off.

The group manufactures and distributes a range of high-quality commodity and specialist chemical and organic products.

It also reported a 32 percent increase in revenue to R823 million, up from R626 million, while headline earnings per share increased by 34 percent to 37.9cents a share, up from 28.4c a share in 2015.

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“Cash generated from operating activities improved by 201 percent to R14 million.

Net working capital investment of R453 million represents the normal seasonal increase in inventory of R30 million, an increase in accounts receivable of R77 million and an increase in accounts payable of R20 million,” the group said. It declared an ordinary dividend of 4c a share, after failing to declare a dividend a year earlier. 

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