Turnover increased by 6.77% to R 56.6 million from R 53.0 million. Improved operating efficiencies and cost savings resulted in an improvement in profit before taxation to R 3.57 million from R 3.025 million (18.02%). The average tax charge improved marginally from 36.3% to 34.2%. Profit for the period increased by 21.91% to R 2.34 million compared to R 1.92 million in the previous year. During the period under review the tax affairs of Watson Tile & Concrete (Pty) Ltd was finally concluded and an over provision of R 793 433 was reversed as a profit on discontinued operations. The Earnings per share therefore increased by 63.08% to 7.51cps from 4.61cps. Headline earnings improved by 13.59% to 5.16cps from 4.54cps. Net asset value per share increased by 12.26% to 100.16cps compared to 89.22cps in the prior year.
Dividend
No dividend has been declared or recommended.
Prospects
The increase in the prime lending rate has resulted in a decline in the residential market. The industrial market remains positive and the group will have to position itself to capitalise on this market sector as well as the repair and alteration market.
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
