Reunert profits increase

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Electronics group Reunert (RLO) on Tuesday posted a 9% rise in normalised headline earnings per share in the year to September to 644.4 cents compared with the same period a year ago.

Revenue increased by 7% to R11.66 billion‚ while operating profit grew by 10% to R1 525 billion.

The final gross cash dividend was 275 cents per share‚ up 9% from last year. Reunert’s total cash dividend was up 12% to 370 cents.

The group’s division Nashua accounted for the majority of earnings‚ with revenue up 4% to R7.218 billion while operating profit increased by 6% to R839 million.

Revenue in CBI-electric increased by 9% to R3.634 billion due to strong demand for certain electrical products as well as increased exports‚ while operating profit remained at R593 million.

“Notwithstanding the slower than expected rollout of state infrastructure‚ constrained spend in the mining sector and lower levels of residential and commercial property development‚ the continued investment in the services business led to steady growth in the energy cables business‚” the company said.

Looking ahead‚ the company said local and global economic environment remained uncertain expect 2013 to be a challenging year. - I-Net Bridge

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