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Johannesburg, – Cargo Carriers [JSE:CRG], a specialised transportation, supply chain and logistics service provider on Tuesday reported a 116% rise in headline earnings per share to 118.8 cents for the year ended February 2010, from 55 cents earlier.
It recorded a 44% increase in earnings per share to 128 cents from 88.8 cents previously.
The group reported revenue up to R443.8m, from R483m in 2009. Profit for the year was at R24.8m, from R17.2m previously.
Cargo Carriers declared a final dividend of 20 cents per share from nine cents earlier. The group reported an interim dividend of 9.5 cents per share, the same as 2009, taking the total dividend up to 29.5 cents, from 18.5 cents previously.
"It is most pleasing to note the increase in headline earnings as this reflects positively that the group's long term strategy of maximising operating profits and containing costs is being achieved," Cargo Carriers said.
Looking ahead, the group said the signs of recovery in the regional economy augured well for business prospects in the coming year.
"Previous financial prudence has enabled the group to take advantage of new business opportunities which will improve earnings and increase gearing, particularly in the industrial segment.
"Operational initiatives have been implemented in the agricultural segment, which should lead to improved results. Weather patterns remain a significant risk. Barring unforeseen circumstances the Group anticipates an increase in headline earnings per share in the coming year," it concluded.
- I-Net Bridge
It recorded a 44% increase in earnings per share to 128 cents from 88.8 cents previously.
The group reported revenue up to R443.8m, from R483m in 2009. Profit for the year was at R24.8m, from R17.2m previously.
Cargo Carriers declared a final dividend of 20 cents per share from nine cents earlier. The group reported an interim dividend of 9.5 cents per share, the same as 2009, taking the total dividend up to 29.5 cents, from 18.5 cents previously.
"It is most pleasing to note the increase in headline earnings as this reflects positively that the group's long term strategy of maximising operating profits and containing costs is being achieved," Cargo Carriers said.
Looking ahead, the group said the signs of recovery in the regional economy augured well for business prospects in the coming year.
"Previous financial prudence has enabled the group to take advantage of new business opportunities which will improve earnings and increase gearing, particularly in the industrial segment.
"Operational initiatives have been implemented in the agricultural segment, which should lead to improved results. Weather patterns remain a significant risk. Barring unforeseen circumstances the Group anticipates an increase in headline earnings per share in the coming year," it concluded.
- I-Net Bridge
