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Cape Town - The continued organic growth of underlying assets, substantial growth in investment performance and new contracts obtained in operating businesses, resulted in diversified investment group Sekunjalo Investments [JSE:SIL], delivering strong financial results for the financial year ending August 31 2013.
Sekunjalo reported on Tuesday that revenue increased by 25% from to R569m. Headline earnings increased by 63% to R30m.
Net asset value (NAV) per share increased by 7% to 96.50c.
Sekunjalo said its profit before tax was at R58m compared to R48m in the previous financial year, thanks to the solid performances from its two main operating subsidiaries, Sekunjalo Technology Solutions Group and Premier Fishing.
The executive chair Dr Iqbal Survé said he is delighted by the performance of the group.
He said that the strategies implemented by the board are beginning to bear fruit and the strong growth in earnings and NAV as well as the good cash flows indicate that the group is beginning to generate significant value for its shareholders.
Survé said he is delighted that the fishing and technology and communications subsidiaries, as well as the investments in Pioneer Foods and British Telecom all continue to perform strongly.
Sekunjalo’s strategy of growing NAV by investing its surplus capital in its underlying businesses is reaping the benefits of this approach and the board and the company is looking forward to a strong performance in the years ahead, Sekunjalo said in a statement.
Sekunjalo said there was sustainable cash generation from operations which compares well with the prior year.
Sekunjalo CEO Khalid Abdulla said that “the R42m generated in net operational cash flow was consistent and underpinned the quality and sustainability of Sekunjalo’s strong earnings flow”.
Abdulla said that due to the re-investment into the organic growth of the Information Technology Communication Group (Sekunjalo TSG), the division is performing in line with expectation with operating profits of R35m for the year.
This was achieved through the implementation and roll out of the long term contracts secured during the prior financial years.
Sekunjalo TSG’s operations continue to perform well with revenue from operations increasing by 27% from R192m compared to R152m during the prior year.
The Information Technology Communication Group also performed above target and generated a positive cash flow.
Premier Fishing generated an operating profit from operations for the year under review.
The ICT and fishing divisions have built a strong platform for further organic growth and the group is well positioned to increase its investments further through acquisition, according to the statement.
Sekunjalo Media owns the rights of and manages the Cape Town International Jazz Festival. The Cape Town International Jazz Festival continues to bear fruit and contributes greatly to the gross domestic product of the Western Cape and national economy of R475m and R800m respectively.
- Fin24
Sekunjalo reported on Tuesday that revenue increased by 25% from to R569m. Headline earnings increased by 63% to R30m.
Net asset value (NAV) per share increased by 7% to 96.50c.
Sekunjalo said its profit before tax was at R58m compared to R48m in the previous financial year, thanks to the solid performances from its two main operating subsidiaries, Sekunjalo Technology Solutions Group and Premier Fishing.
The executive chair Dr Iqbal Survé said he is delighted by the performance of the group.
He said that the strategies implemented by the board are beginning to bear fruit and the strong growth in earnings and NAV as well as the good cash flows indicate that the group is beginning to generate significant value for its shareholders.
Survé said he is delighted that the fishing and technology and communications subsidiaries, as well as the investments in Pioneer Foods and British Telecom all continue to perform strongly.
Sekunjalo’s strategy of growing NAV by investing its surplus capital in its underlying businesses is reaping the benefits of this approach and the board and the company is looking forward to a strong performance in the years ahead, Sekunjalo said in a statement.
Sekunjalo said there was sustainable cash generation from operations which compares well with the prior year.
Sekunjalo CEO Khalid Abdulla said that “the R42m generated in net operational cash flow was consistent and underpinned the quality and sustainability of Sekunjalo’s strong earnings flow”.
Abdulla said that due to the re-investment into the organic growth of the Information Technology Communication Group (Sekunjalo TSG), the division is performing in line with expectation with operating profits of R35m for the year.
This was achieved through the implementation and roll out of the long term contracts secured during the prior financial years.
Sekunjalo TSG’s operations continue to perform well with revenue from operations increasing by 27% from R192m compared to R152m during the prior year.
The Information Technology Communication Group also performed above target and generated a positive cash flow.
Premier Fishing generated an operating profit from operations for the year under review.
The ICT and fishing divisions have built a strong platform for further organic growth and the group is well positioned to increase its investments further through acquisition, according to the statement.
Sekunjalo Media owns the rights of and manages the Cape Town International Jazz Festival. The Cape Town International Jazz Festival continues to bear fruit and contributes greatly to the gross domestic product of the Western Cape and national economy of R475m and R800m respectively.
- Fin24
