Johannesburg – Investment holding company South Ocean Holdings [JSE:SOH]
on Thursday posted an 8.3% rise in headline earnings per share to 11.7 cents in the six months to June 2012‚ compared with the same period a year ago.
Revenue was up 5.5% at R652.8m‚ while operating profit increased by 6.4% to R32.2m.
The company said market uncertainty‚ which resulted in the currency fluctuations and volatility in commodity prices during the period‚ contributed to the subdued results.
“The market for the next six months is likely to be even more challenging and it is anticipated that the results will be dependent on taking advantage of government’s infrastructure spending programmes to increase revenue‚” it said.
South Ocean consists of four operating subsidiaries: South Ocean Electric Wire Company Proprietary‚ Radiant Group‚ Anchor Park Investments and SOH Calibre.