metrofile Expansion planned as profit rises
Metrofile had decided to accelerate its capital expenditure plans to build new buildings next year, the document management firm said yesterday. Metrofile delivered 20 percent growth in headline earnings a share to 21.7c for the year to June. Metrofile said it would expand its warehouse facilities in Johannesburg and Cape Town and spend at least R30 million on new racking as it took advantage of favourable interest rates.
Revenue rose 14 percent to R524m, while profit was R91.1m from R73.9m in the previous year. Its stock gained 0.56 percent to R3.58 yesterday. – Asha Speckman