Investment group Real Africa Holdings (RAH) has increased its full-year headline earnings per share by almost 400%.
The group has investments mainly in the financial services, food, IT and healthcare sectors.
Operating income for the year to 31 March rose from R85.83 million to R201.77 million, while net investment gains of R216.75 million compare with previous losses of R109.14 million.
"Included in operating income is special dividends of R162.3 million," says director Danie Vlok. "This dividend from Comparex Limited was declared in anticipation of liquidation as part of the restructuring of Comparex Limited."
He says the group`s performance was largely affected by net investment gains primarily affected by the write-up in the group`s gaming investments.
Net investment gains include a mark-to-market adjustment of R74 million in respect of the group`s investment in Dimension Data, of which R38 million is attributable to RAH.
A mark-to-market adjustment is an accounting term that refers to adjusting the value of a security to reflect the current market value.
Net after-tax profit rose from R20.54 million to R446.91 million, with attributable profit up from R28.85 million to R292.57 million. Earnings per share rose from 7.8c to 78.7c, while headline earnings per share of 81c compare with a previous 16.3c.
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