Loading...
See More

Austro Group earnings decline

Nov 22 2010 17:44
I-Net Bridge

Company Data

enX GROUP LIMITED [JSE:ENX]

Last traded 2
Change 0
% Change 2
Cumulative volume 47186
Market cap 0

Last Updated: 30-06-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Johannesburg - Industrial supplier to construction-related sectors, Austro Group [JSE:ASO] on Monday announced diluted headline earnings per share of 5.2 cents for the year ended August 2010, from 10 cents previously.

Earnings per share declined to 5.4 cents, from 10.1 cents earlier.
 
Revenue dropped to R401.9m from R580.5m with profit from operations at R36.64m from R88.04m in 2009.
 
Austro declared a dividend per share of 4 cents from 2 cents previously.
 
"The group delivered moderate results considering the effect of the depressed economy on the Power Division and the lower than expected demand for woodworking equipment in anticipation of the 2010 World Cup," it said.
 
"The highlight was the elimination of all significant debt on the balance sheet and cash generated by operating activities of R120.9m," it said.

Revenue for its power division decreased by 36.5% to R268.4m, while it contributed 66.8% overall revenue, from 72.8% in 2009.
    
Austro highlighted the benefits of a restructuring process at it wood division "and resultant cost reductions made in the previous year are now being felt with the operating profit being in line with forecasts," it said.
 
This division contributed 33.2% to group revenue, which declined by 15.5% to R133.5m.

It said that it expected market growth would remain "relatively flat" in the forthcoming year.

 

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

There are no formal training requirements for becoming a beautician in South Africa. But it is highly recommended you complete a course in beauty therapy.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

SA’s new visa regulations are:

Previous results · Suggest a vote

Loading...