Publications
Partners
Johannesburg - Hudaco Industries [JSE:HDC], which
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 acquisition strategy.
"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.
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 acquisition strategy.
"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.
