Sekunjalo Investments: Organic growth continues to lift boat

Revenue at Sekunjalo Investments increased 25 percent to R569 million in the year to August, results released yesterday showed. Cash generation from operations was consistent at R56m. The company said underlying operations showed consistent sustainable earnings, with profit before tax rising to R58m from R48m the previous year thanks to the solid performance of its two main operating subsidiaries, Sekunjalo Technology Solutions and Premier Fishing. These collectively generated R59m in operating profit. Khalid Abdulla, the chief executive, said yesterday: “We have been on a growth path for the last four years. If you look at the results, they have been consistent. We have been expanding through organic growth.” Sekunjalo Investments is an associate company of Sekunjalo Holdings, a private company that led the consortium that bought Independent Newspapers recently. Independent Newspapers publishes Business Report, The Star, The Mercury, the Cape Times and several other titles. Sekunjalo Investments said headline earnings increased 63 percent to R30m. Its net asset value a share, the most important measure of performance in an investment holding company, grew to 96.5c from 90.49c the previous year. Sekunjalo Investments shares closed unchanged on the JSE at 55c yesterday. – Staff Reporter