Real Africa Holdings (RAH) improved its attributable earnings to R251.86 million in the six months to September, compared with a R499 000 loss for the same period last year.
RAH is a holding company with investments in the financial services, food, IT and healthcare sectors.
With no change in the status of its investment in PQ Africa Holdings, RAH has recorded the full gain of about R74 million attributable to the Comparex share price increase up to 30 September.
The company`s directors say this has been retained for the benefit of outside shareholders.
They attribute the turnaround to net investment profits, with a marked improvement in the valuation of its investments in casino operations and Afrox Healthcare prior to its distribution.
During the period the company distributed R498 million cash to shareholders. It also distributed its equity investment in Afrox Healthcare and disposed of its Chemcity and Advance Wealth Management stakes.
Earnings per share rose from a negative 0.1c to a positive 67.7c a share while headline earnings per share improved from 0.8c to 69.5c.
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