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Brick sales boost Kairos profit

Johannesburg - Engineering and machinery group Kairos Industrial Holdings on Monday reported an increase to 4.13c in headline earnings per share for the year ended February 28 2005 from 1.22c per share a year ago.

The group's earning per ordinary share rose to 4.11c per share from 1.24c previously.

Turnover for the year under review increased by 40.7% to R94.474m from R67.170m while operating profit increased by R8.454m to R13.496m from a previous profit of R5.042m.

The group added that investment income increase by 22% while finance cost increased by 26.1%.

The company attributed the turnaround in the reported financial information to the increased production and sales in the brick making divisions.

The decline in sales by 13% in the mining supply division was due to lower commodity prices, the strong rand and mines cutting back on development programmes, the group stated.

Despite this, the division still managed to return an operating profit for the year under review.

With a net profit of R10.371m for the year under review compared with R3.132m for the previous year, headline earnings increased to 4.13c per share.

Looking ahead, the group said that its strategic focus remains unchanged with solid business models and focus on its core business.

The board added that it remains confident of the prospects for 2006 and beyond.

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