Johannesburg - Hudaco Industries [JSE:HDC]
imports and distributes branded engineering consumables, power tools and
security, automotive and professional mobile radio communication
products, on Thursday reported a 28% rise in headline earnings per share
to R10.24 for the year ended November 30 2011.
Operating profit for the 12 month-period was up 42% to R426m.
Dividends were up 26% to R4.40 per share.
Looking ahead, Hudaco said trading conditions for the group
have improved over the past year. Rand weakness, such as occurred in the
last quarter of 2011, has traditionally led to increased activity by
mines and local manufacturers and this bodes well for Hudaco's engineering consumables segment's prospects in 2012.
Demand from mining
customers in neighbouring countries is expected to remain strong.
"Demand for power tools and digital communication
equipment, products in our consumer-related products segment, is
expected to continue to be strong, but the outlook for the security
products business remains weak.
"The strong financial position also gives
plenty of ammunition for Hudaco to continue to pursue its successful
"Notwithstanding the economic uncertainties created by the
financial crises in Europe and the USA, the board is confident that the
group is well positioned to continue to grow earnings in the years
ahead," Hudaco said.