Johannesburg - Investment group Remgro’s earnings for the year to June were down 26.4 percent mainly as a result of once-off transaction costs of R788 million incurred with the Mediclinic rights issue and Al Noor Hospitals Group transaction.
Without the once-off items, Remgro’s comparable headline earnings were up 2.6 percent, from R7.3 billion to R7.5bn, while comparable headline earnings a share were up 2.5 percent, from 1 427 cents a share to 1 463c a share, the group said.
Remgro increased total dividend by 7.5 percent to 460c a share. Chief executive Jannie Durand said the majority of the company’s investments had reported “satisfactory” results.
“Remgro’s strategy to invest in businesses that have a solid track record and investments with sound business principles have and will continue to benefit the group and its stakeholders,” Durand said.
Remgro’s shares on the JSE yesterday closed 1.24 percent up at R246.51 a share.
BUSINESS REPORT