Durban - Investment and property holding company ARB Holdings said it is keen to explore further opportunities in its electrical division to compensate for the decrease in project revenues in the last quarter of last year.
The company said on Thursday the division played a big role in the upswing of profits after it expanded its geographic footprint with three new Connect stores.
Chief executive Billy Neasham said: “We remain confident that the group has the resources to continue to build customer loyalty, which will open new opportunities for the electrical division. This division will continue to invest, in the medium term, in organic growth opportunities through the establishment of new distribution outlets.”
Neasham said trading margins were expected to remain under pressure.
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The company yesterday reported a 3.1 percent increase in revenue to R1.27 billion in the six months to December, up from R1.24 billion a year earlier.
Headline earnings a share rose 1 percent to 28.07 cents a share.
ARB shares dropped 2.94 percent on the JSE to close at R6.60.