Primeserv earnings take a dip

Johannesburg - Primeserv [JSE:PMV] Group, the investment holding company, on Monday reported a dip in its full year diluted headline earnings per share (Heps) to 10.51 cents from 15.04 cents.

The company reported a net profit attributable to shareholders of R11.5m for the 12 months to end December 2009, compared to R17.5m for the 12 months to end December 2008.

Consolidated group revenue for the review period declined by 3% from R539.9m to R523.5m as businesses continued to bear the effects of the global economic slowdown.

Group Ebitda fell by 19% from R23.6m to R19.1m with operating profit down by 20% from R21.8m to R17.5m.

The total annual dividend has been maintained at 3 cents per share.

- I-Net Bridge