Fin24

Peregrine profits up 1%

2012-11-09 10:57

Johannesburg – Financial services group Peregrine [JSE:PGR] has increased its headline earnings per share by a mere 1% to 50.6 cents in the six months to September‚ from the same period a year ago.

Group operating revenue reduced by 2% to R687m, while net profit reduced slightly to R152.4m‚ from R153.1m.

The company said it had produced “moderately positive” results under continued difficult trading conditions.

“All subsidiaries experienced difficult trading environments‚ which in line with the current general conditions in the economies they operate in‚ were characterised by an overall difficulty in raising new capital‚ slow activity in markets and uncertainty for investors.”

Looking ahead‚ Peregrine said notwithstanding difficult trading conditions it remained on course to deliver higher dividend payments to shareholders‚ and to return excess capital when realised.