Kamlesh Bhuckory
REMGRO’S full-year profit for the year to June rose 66 percent as banking and health-care assets delivered higher earnings, the investment company controlled by billionaire Johann Rupert said yesterday.
Total earnings were R6.92 billion in the 12 months to June, compared with R4.18bn the previous year, the Stellenbosch-based company said in a statement yesterday.
Headline earnings increased 58.1 percent to R6.64bn, while the dividend was raised by 12.4 percent to R3.89.
Remgro owns stakes in companies including private hospital owner Mediclinic International, as well as bank FirstRand.
Profit from the food, liquor and homecare unit declined 29.2 percent after RCL Foods made a full-year loss.
The shares climbed just 0.21 percent higher to R244 by the close in Johannesburg, valuing the investment holding company at R126bn.
Remgro’s stock has gained about 17 percent this year, compared with an 11 percent increase in the all share index. – Bloomberg