Cape Town - The interim results of Sekunjalo Investments shows that group revenue increased by 7%, operating profits increased by 18% and profit before taxation is up by 35%.
The total assets increased by 7% and tangible net asset value was up by 7% for the interim period which ended on February 28 2014.
The Group, as an investment holding company, has set its objective to increase net asset value (NAV) by improving the operational performance of its underlying businesses and investments.
It says it has done so successfully for the period under review.
The executive chair Dr Iqbal Survé said he is delighted by the performance of the listed subsidiary of the Sekunjalo Investment holding company.
Survé has indicated that he is particularly pleased that the fishing and IT subsidiaries, as well as the investments in Pioneer Foods and British Telecom all continue to perform strongly, which has strengthened the group's financial position.
Survé said traditionally Sekunjalo's results for the first half of the year are not as good as the second half of the year, due to the seasonal nature of some of the businesses in the group.
Group revenue has grown by 7% from the prior interim period due to the strong operational performance of the underlying businesses.
The group's gross profit percentage of 32% was achieved by improved margins and driving efficiencies throughout the group's operations.
Profit before taxation for the period increased significantly to R32.7m compared to the prior period of R24.2m, driven mainly by the organic growth of subsidiary companies and the strategies implemented during the last two years.
Earnings and headline earnings per share have increased by 13% and 12% respectively as a result of the operational performance of the subsidiaries.
The group's asset base increased by R61.6m to R959.6m, from R897.9m for the comparative period under review.
Net asset value (NAV) per share grew to 100.23c from 93.79c for the interim period, while tangible NAV per share grew to 90.17c from 83.83c for the same period.
Sekunjalo's CEO, Khalid Abdulla said that this performance was as a result of improved operational efficiencies, which compares well with the prior interim period.
He is pleased that the business strategies implemented are showing the expected results for the six month period under review.
The Sekunjalo Investments strategy of growing NAV by investing its surplus capital in its underlying businesses is reaping the benefits as a result of this approach.
He said the re-investment in the organic growth of the group's operations are showing the benefits as expected with operating profits of R38.9m for the period under review.
Premier Fishing has steadily improved its performance with the major contribution coming from the south coast rock lobster and Abalone divisions.
The fishing sector generally performs better in the second half of the year due to the seasonal nature of the industry.
The information technology and communication operations continue to perform well above expectation since the successful implementation of the National Health Laboratory Systems project, which now moves to annuity maintenance mode.
Abdulla said that the healthcare division's revenue has grown by 29% with the natural chemical range of products in the healthcare division showing a good improvement in performance.
The performance of the group's investments in large multinational companies, British Telecom Communication Services South Africa and Pioneer Foods Group have, as indicated, also contributed to the group's interim results.
The fishing and ICT divisions have built a strong platform for further organic growth and the group is well positioned to increase its investments further through acquisition, it said.
The total assets increased by 7% and tangible net asset value was up by 7% for the interim period which ended on February 28 2014.
The Group, as an investment holding company, has set its objective to increase net asset value (NAV) by improving the operational performance of its underlying businesses and investments.
It says it has done so successfully for the period under review.
The executive chair Dr Iqbal Survé said he is delighted by the performance of the listed subsidiary of the Sekunjalo Investment holding company.
Survé has indicated that he is particularly pleased that the fishing and IT subsidiaries, as well as the investments in Pioneer Foods and British Telecom all continue to perform strongly, which has strengthened the group's financial position.
Survé said traditionally Sekunjalo's results for the first half of the year are not as good as the second half of the year, due to the seasonal nature of some of the businesses in the group.
Group revenue has grown by 7% from the prior interim period due to the strong operational performance of the underlying businesses.
The group's gross profit percentage of 32% was achieved by improved margins and driving efficiencies throughout the group's operations.
Profit before taxation for the period increased significantly to R32.7m compared to the prior period of R24.2m, driven mainly by the organic growth of subsidiary companies and the strategies implemented during the last two years.
Earnings and headline earnings per share have increased by 13% and 12% respectively as a result of the operational performance of the subsidiaries.
The group's asset base increased by R61.6m to R959.6m, from R897.9m for the comparative period under review.
Net asset value (NAV) per share grew to 100.23c from 93.79c for the interim period, while tangible NAV per share grew to 90.17c from 83.83c for the same period.
Sekunjalo's CEO, Khalid Abdulla said that this performance was as a result of improved operational efficiencies, which compares well with the prior interim period.
He is pleased that the business strategies implemented are showing the expected results for the six month period under review.
The Sekunjalo Investments strategy of growing NAV by investing its surplus capital in its underlying businesses is reaping the benefits as a result of this approach.
He said the re-investment in the organic growth of the group's operations are showing the benefits as expected with operating profits of R38.9m for the period under review.
Premier Fishing has steadily improved its performance with the major contribution coming from the south coast rock lobster and Abalone divisions.
The fishing sector generally performs better in the second half of the year due to the seasonal nature of the industry.
The information technology and communication operations continue to perform well above expectation since the successful implementation of the National Health Laboratory Systems project, which now moves to annuity maintenance mode.
Abdulla said that the healthcare division's revenue has grown by 29% with the natural chemical range of products in the healthcare division showing a good improvement in performance.
The performance of the group's investments in large multinational companies, British Telecom Communication Services South Africa and Pioneer Foods Group have, as indicated, also contributed to the group's interim results.
The fishing and ICT divisions have built a strong platform for further organic growth and the group is well positioned to increase its investments further through acquisition, it said.