African Equity Empowerment Investments Limited’s (AEEI) group chief executive officer Khalid Abdulla.

CAPE TOWN - African Equity Empowerment Investments Limited has reported strong year-end performance, with 111% increase in operating profit.

Highlights

- Profit before tax increased by 136% from R288m to R681m

- Headline earnings per share increased by 120% from 43.13 cents to 94.89 cents

- Earnings per share increased by 120% from 44.09 cents to 97.10 cents

- Operating profit increased by 111% from R310m to R655m

- Net asset value increased by 100% from R1bn to R2bn- Total assets increased by 65% from R1.7bn to R2.8bn

- Revenue increased by 43% from R736m to R1 052m

- Net cash generated from operating activities increased to R80m

- Final dividend declaration of 5.50 cents per share to shareholders

Group and CEO, Khalid Abdulla said “Looking ahead, AEEI has a solid balance sheet and our cash flow has improved. Our business model remains on a firm growth path, investing in other companies and market strategies, as well as investing in our own people who will assist us in continuing to deliver long-term value for all our stakeholders including our shareholders.

“This year has been excellent for its organic growth, continuous reinvestment, and strategic acquisitions, building on to our objective of a sustainable high-growth Company with shareholder value growth in line with our Vision 202 Vision.”

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 - BUSINESS REPORT ONLINE