| Thu 21 May 2009, 7:21 | | SKJ - The Sekunjalo Investment Group - Sekunjalo Delivers A Strong Performance |
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SKJ
SKJ
SKJ - The Sekunjalo Investment Group - Sekunjalo Delivers A Strong Performance
The Sekunjalo Investment Group
Sekunjalo Investments Limited (SIL)
Incorporated in the Republic of South Africa
Registration number 1996/006093/06
Share Code: SKJ & ISIN: ZAE 000017893
("Sekunjalo" or "the Group")
SEKUNJALO DELIVERS A STRONG PERFORMANCE
Group shows spectacular turnaround amid challenging economic environment
-Headline earnings per share up 111%
-Headline earnings up 113%
-Net asset value per share up 53%
-Operating profit up 133%
Top ranked black investment holding company, Sekunjalo today released its
interim results.
Sekunjalo Executive Chairman, Dr Iqbal Surve was pleased to announce today that
the Group has delivered a significant turnaround for the period to 28 February
2009. This turnaround has been due to restructuring of the Group, greater
efficiencies of businesses, decentralization of business units, new markets for
the Groups businesses and significant new Government contracts.
Sekunjalo`s operating profit of the Group went from a loss of R43.5 million in
2008 to an operating profit of R14.2 million in 2009.
Sekunjalo Executive Chairman said "the restructuring of the Group into a
decentralized operation has decreased corporate overheads and created
efficiencies in the various business units."
Premier Fishing, one of the largest black-owned fishing companies in the
country, produced a superb performance compared to the previous financial year.
The positive performance was underpinned by reduced fuel costs, strong catching
across all fishing rights, maintenance of pricing levels despite the global
crisis as well as a favourable rand / dollar exchange rate.
Peter van Zyl, the Group Commercial Director, said "the Group`s Informatics
division has performed well across its subsidiaries, synergy Business
Intelligence, FIOS, Saratoga Software as well as being awarded new Government
contracts in Health System Technologies."
He also emphasized that the Financial Services division showed a significant
turnaround to the previous year. The restructuring of this division resulted in
a profitable performance despite some once-off items.
Sekunjalo has strengthened its pharmaceutical business through the growth of its
partnership with Julphar Gulf Pharmaceuticals and increased focus on its own
brands namely, betnovate, fortum, dermovate and becotide.
The Group`s biotechnology business continues to be the top ranked biotech
company in Africa and has made significant strides in increasing its
manufacturing capabilities as well as growing its distribution channels into new
markets.
The Group`s investment in aquaculture continues to grow amid investment into its
infrastructure to enable a greater stock holding of biological assets. The
Group`s Executive Chairman, Dr Iqbal Surve said "the aquaculture business is now
well positioned to expand into new areas and explore new technologies."
The Group`s partnership with global giant, British Telecom continues to perform
exceptionally well. In addition, the Cape Town International Jazz Festival was
again a great success in 2009 and the Group looks forward to its positive
contribution at year-end.
The Executive Chairman Dr Iqbal Surve says "the Group`s prospects are excellent
because it has low gearing, a strong asset base, strong cash flow from the
subsidiaries, high growth investments along with a credible black empowerment
status which makes it a partner of choice for global companies."
The Group`s pre-eminent black economic empowerment status and World Economic
Forum New Champion Founder Member has opened doors for it on an African and
global scale.
Contacts on behalf of: Sekunjalo Investments Limited
Peter van Zyl
Group Commercial Director
Tel (021) 419 0124
Mobile 083 680 5740
Or Cherie Hendricks
Executive Director & Company Secretary
Tel: (021) 419 0124 / 415 7953
Mobile: 083 718 4493
Cape Town
21 May 2009
Date: 21/05/2009 07:21:01 Produced by the JSE SENS Department.
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