Racec earnings up by 84%

Posted On Friday, 12 December 2008 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

Racec Group Ltd, the AltX-listed rail and electrification infrastructure solution company, on Thursday reported an 84% rise to 16 cents.

Infrastructure IndustryRacec Group Limited, the AltX-listed rail and electrification infrastructure solution company, on Thursday reported an 84% rise to 16 cents in headline EPS for the year to September, benefiting from the increased pace of infrastructure investments in its markets.

Racec declared a final dividend of 3.0 cents per share.

Revenue grew 78% to R388.9 million and operating profit jumped 67% to R26.6 million.

"We maintained our long-term track record of organic growth during the period, while our AltX listing also facilitated strategic acquisitions which contributed to increased profits," said Charles Harrod, chief executive officer of Racec.

"Two strategic acquisitions concluded during the financial year also provided diversification benefits within our core activities," he added.

Greenbro CC, which manufactures generators and electrical equipment, extended the firm's product offering, while Northern Electric, a commercial and industrial contracting company, widened its customer base.

"We are confident that, in spite of the financial uncertainty, Racec is in a strong position to deliver on the commitments we made when we listed on the AltX in October 2007.

The pipeline of opportunities remains promising," said Harrod.

 

Last modified on Friday, 01 November 2013 07:20

Most Popular

Equites Property Fund’ prime logistics portfolio delivers exceptional returns

May 04, 2022
Andrea Taverna-Turisan
Equites Property Fund Limited today announced growth in its distribution per share of…

When is eviction legal? All you need to know about dealing with problem tenants

May 04, 2022
Evictions
Buying an investment property is great, especially when you’ve chosen a good location.…

Money laundering risks on the rise in real estate

May 05, 2022
James George
Property practitioners in South Africa have been identified as potentially vulnerable to…

Fairvest to list on A2X

May 04, 2022
Fairvest Limited has been approved for a secondary listing on A2X Markets and will be…

Dipula reports solid interim results; all conditions precedent for the repurchase of Dipula A-shares fulfilled

May 05, 2022
Izak Petersen
South-African focused JSE-listed diversified REIT, Dipula Income Fund, today announced…

Please publish modules in offcanvas position.