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Johannesburg - Construction and road building group Basil Read is edging closer to its goal of achieving turnover of R10bn by 2013.
For the six months to end-June 2009, revenue increased by 47% to R2.1bn and operating profit grew 43% to R181.8m. This translated into an operating margin of 8.8%. Net profit also rose by 43% to R122.1m.
"Continuing in an expansionary phase, the group has maintained a steady trajectory of organic growth and is in the process of acquiring a strategically important investment confirming its goal of becoming a R10bn turnover group by 2013," it said.
The group's headline earnings per share of 154.66c were up 35% from the 112.29c earlier.
The group reported diluted earnings per share of 141.21c versus
111.46c for the same period in 2008.
Basil Read reported an operating profit of R181.8m, from
R126.9m previously, a 43% increase.
The group said that the board had reviewed the current period's results
together with the forecasts for 2009/10 and had decided not to declare an
interim dividend.
- Fin24.com and I-Net Bridge