JOHANNESBURG – Investment Holding company Remgro was saved blushes by its diverse portfolio as reinvestments and option remeasurements ate into gains made from robust banking and insurance platforms, RCL Foods, Total and higher finance income.
A lower contribution from Mediclinic as well as transaction costs incurred on the Distell ownership restructuring and the Unilever Spreads business acquisition saw headline earnings for the year to June increase by a marginal 4.3 percent from R8 221 million to R8 573m.
Headline earnings per share (Heps) increased by a slim 1.8 percent from 1 485.5 cents to 1 512.6c.
Analyst at Nitrogen Financial Management Waldo du Plessis said Remgro's results were in line with expectations.
"Remgro looks like an attractive opportunity for value investors," said Du Plessis.