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Johannesburg - Eqstra Holdings [JSE:EQS] increased headline earnings by 34.7% in the year ended 30 June 2013, to 104c a share, and increased its net asset value by 14.4% to 791.4c a share.
“We are very pleased with the results,” said group CEO Walter Hill.
Revenue increased by 11.6% to R9.1bn, operating profit from continuing operations increased by 16.2% to R1.0bn and total operating profit by 8.2% to R408m.
Cash generated from operations increased by more than 30% to R3.2bn.
”We are a tremendously cash-generate business and the board was very comfortable declaring a dividend of 36c a share.”
Hill said the base of the business is the revenue earning business.
“We are very pleased with the results,” said group CEO Walter Hill.
Revenue increased by 11.6% to R9.1bn, operating profit from continuing operations increased by 16.2% to R1.0bn and total operating profit by 8.2% to R408m.
Cash generated from operations increased by more than 30% to R3.2bn.
”We are a tremendously cash-generate business and the board was very comfortable declaring a dividend of 36c a share.”
Hill said the base of the business is the revenue earning business.
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“That has grown by 8% to R9.6bn and we will only see the benefits of a lot of that growth in two or three year’s time. You don’t immediately get the benefit of the revenue earning assets as that comes in the latter part of the contracts,” he said.
Despite a challenging economic climate, Hill said Eqstra has shown its robustness and its resilience in the South African economy.
“The industrial action that is currently plaguing the country, will affect all industries, but we’re considered to be a labour light industry, particularly on our mining side … [where] most of our people are in the higher skilled bracket.”
He said the group’s forklift business is doing very well.
“The leasing asset business, leasing and fleet management business is always a very good defensive business and that will give us good returns for the next year as well,” Hill concluded.
- Fin24
