ARB Holdings: Acquisitions beckon as turnover rises

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ARB Holdings was ready to go on the acquisition trail after topping the R1 billion mark in half-yearly revenue backed up by a healthy balance sheet, the independent distributor of electrical and lighting products said yesterday. In the six months to December last year, ARB lifted revenue by 20 percent to R1.15bn from R964.7 million a year earlier. Headline earnings a share rose 35 percent to 24.88c. The growth was attributable to excellent trading performances from the electrical and lighting divisions. In the period ARB did not pursue any acquisitions as it focused on growing the electrical division internally. “We will starting shifting our focus to acquisitions in the next six months,” chief executive Byron Nichles said. Although he could not divulge potential deals, Nichles said ARB was in a good position to start looking. “We have a strong balance sheet, no debt and R116m of cash, we are always looking at possible acquisition opportunities.” The shares closed 3.57 percent up at R5.80. – Nompumelelo Magwaza


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