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Sekunjalo revenue up seven percent

Cape Town - Empowerment company Sekunjalo Investments on Tuesday posted interim results showing a seven percent increase in group revenue.

Operating profits also increased by 18 percent in the period ending February 28, while earnings per share increased by 13 percent.

Sekunjalo's executive chairman Iqbal Surve said in a statement he was “particularly pleased” that the group's fishing and information technology subsidiaries and its investments in Pioneer Foods and British Telecom performed strongly.

He noted that traditionally results for the first half of the year were not as good as those for the second because of the seasonal nature of some of the businesses in the group.

This included its fishing operations.

Sekunjalo chief executive Khalid Abdulla said Premier Fishing had steadily improved its performance, in large part due to its lobster and abalone divisions.

In the period under review, Sekunjalo's profit before taxation increased from R24.2 million to R32.7m, driven mainly by the growth of subsidiary companies. - Sapa

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