Remgro reports a lacklustre set of results
JOHANNESBURG – Remgro, the diversified portfolio holding group reported a lacklustre set of results in the six months to December, with headline earnings declining 3.3 percent from R4.4billion to R4.2bn, while headline earnings per share also decreased by the same margin from 777.5 cents to 752.1c.
Earnings, which increased by 149.3percent to R10.2million, compared with R4.1m in the previous period were boosted mainly to profit realised from Unilever disposal of R8.3m.
“This increase is partly offset by Remgro’s portion of the impairments of Mediclinic’s properties and trade names in Switzerland and its investment in Spire Healthcare Group plc of R1.9bn, compared with R830m in the 2017 comparable period.” the group said.
The group declared an interim gross dividend of 215c, up 5.4 percent from 204c a share in 2017. Remgro in July fully acquired Unilever’s Spreads business, Siqalo Foods which became a wholly owned subsidiary of the group.
Remgro now also holds the majority of voting rights in Distell Group Holdings, which resulted in the investment in Distell being consolidated into the group.