Reunert’s annual earnings per share for the year to September leap 316%
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JSE- listed Reunert for the full year ended September saw its headline earnings per share surge up by 316 percent to 478 cents.
Reunert’s chief executive Alan Dickson said: “We are pleased with the group’s performance in a year where several macroeconomic challenges needed to be addressed ... The performance of the companies on our key growth markets of renewable energy, exports and ICT continue to accelerate and underpin our expectation of future improvement in financial performance in the year ahead.”
Group revenue rose by 19 percent to R9.6bn, while dividends increased by 8 percent to 277c per share.
Reunert said all the ICT businesses performed in line with the group’s expectations, while the Electrical Engineering segment’s strong recovery was led by an excellent performance in circuit breakers in both their local and export markets.
However, the Applied Electronics segment had a challenging year. Export activity fell significantly impeded by the Covid-19 induced lack of international travel and lockdowns in its key international geographies. This had resulted in revenue reducing by 5 percent to R1 854 million.
Chief financial officer Nick Thomson said: “We showed adaptability at Reunert as we recovered after the extremely difficult 2020 and delivered a strong performance.
“This has created a solid base for further growth going forward. We are dealing with the reality of the post Covid-19 world and have proved that our quality products, and excellent services remain sought after throughout our markets.”
BUSINESS REPORT ONLINE