Gross income from operations and investments increased by 67.58% to R41.62 million (R24.84 million). Other than Set Point Technologies, all of the group's associates and investments performed well. The repositioning and management changes at Set Point are almost complete and Sabvest expects that Set Point will return to sound levels of profitability in the second half of 2007. Headline earnings per share increased by 61% to 66cps (41.2cps). A substantial portion of the increase in earnings arose from fair value adjustments to the group's portfolio of listed shares (net of deferred tax).
Dividend
A dividend of 3c (2c) per ordinary share and "N" ordinary share for the six months ended 30 June 2007 has been declared.
Prospects
The group's associates and investments are performing well and Set Point is expected to resume profitability in the coming period. If the group concludes the new investments currently being considered, Sabvest should be fully invested by the end of the financial year. Sabvest's 2006 results included a number of substantial one-off profits in the second half of 2006 and which are not expected to be repeated in 2007. Accordingly, Sabvest anticipates recording lower headline earnings per share and earnings per share in 2007 than in the prior exceptional year. However, intrinsic value per share and dividends per share are expected to increase.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
