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Ellies posts jump in profit

Jan 22 2013 11:13 I-Net Bridge

Company Data

ELLIES HOLDINGS LIMITED [JSE:ELI]

Last traded 2.86
Change -0.07
% Change -0.02
Cumulative volume 769243
Market cap 868.03m

Last Updated: 23/07/2014 at 04:21. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Ellies Holdings [JSE:ELI]‚ which manufactures and distributes electronic products related to TV reception‚ has reported a 102.4% leap in headline earnings per share to 42.46 cents in the six months to October 2012‚ from 20.98 cents a year earlier.

Revenue was up 56.1% to R1.1bn as a result of growth in both the consumer goods division and the infrastructure division.

Ebitda rose by 88% to R198.2m‚ with an improved Ebitda margin of 17.6% from 14.6% in October 2011. No interim dividend was declared.

“Ellies is continuously on the lookout for ways in which to create better shareholder value and concentrates on creating it through improved and innovative product lines and services‚” said chief executive Wayne Samson.

Looking ahead‚ the company said it remained prepared for the commencement of the Digital Terrestrial Television (DDT) roll out in South Africa and‚ together with its strategic partners‚ were positioned to benefit from the roll-out. Ellies said it had begun exporting aerials and DTT dishes to other African countries and with the continued weakening of the rand more export activity will be seen by the group.

The infrastructure division’s growth is expected to continue with a “solid” order book. The power products division has been appointed as a preferred supplier for several solar and wind projects‚ which are expected to have a significant effect on the division’s revenue in the future‚ it said.  

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