Property sale helps Peregrine boost profits

Published Jun 10, 2015

Share

Johannesburg - Peregrine Holdings said it had lifted basic profit attributable to shareholders by 59 percent, from R425-million to R677-million, in the year to March.

The leading financial services group noted that this included a net capital gain of R113-million on the disposal of Stenham Property to Stenprop, as well as “pleasing additions to earnings from the newly acquired businesses of Java Capital and Cannon Trustees”.

Headline earnings increased by 31 percent, from R409-million to R534-million, with headline earnings per share up by 28 percent, from 211.5 cents in the corresponding period last time to 270.9 cents per share. A dividend of 150 cents per share was declared, representing growth of 50 percent over last year’s 100 cents per share.

The group said the results built on the previous year’s strong performance. It noted Peregrine Capital’s excellent performance but added that “the contribution across all business segments highlighted the diversified nature of earnings in the group”.

ANA

Related Topics: