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Johannesburg - KAP International Holdings [JSE:KAP] reported a 22% increase in headline earnings per share from 13.9 cents to 17c for the six months ended December 31 2011.
Earnings per share increased by 22% to 16.9c (2010: 13.9c).
Revenue from continuing operations went up by 14% to R2.449bn from R2.157bn, due to good growth in the automotive and PET divisions.
Operating profit rose to R108.6m (2010: R107.1m).
Despite increased trading activity, net interest-bearing borrowings fell by 28% to R187.4m (2010: R260.2m), and the period-end interest-bearing debt/equity ratio was 12.4% (2010: 18.6%).
On October 18 2011, the group announced the acquisition of the South African industrial assets of Steinhoff Africa. All conditions precedent have been met, except for approval by the competition authorities.
Earnings per share increased by 22% to 16.9c (2010: 13.9c).
Revenue from continuing operations went up by 14% to R2.449bn from R2.157bn, due to good growth in the automotive and PET divisions.
Operating profit rose to R108.6m (2010: R107.1m).
Despite increased trading activity, net interest-bearing borrowings fell by 28% to R187.4m (2010: R260.2m), and the period-end interest-bearing debt/equity ratio was 12.4% (2010: 18.6%).
On October 18 2011, the group announced the acquisition of the South African industrial assets of Steinhoff Africa. All conditions precedent have been met, except for approval by the competition authorities.
