Diversified holding company Sekunjalo believes it is well positioned to enhance its earnings and bolster its asset and net asset value through organic growth, acquisitions and strategic initiatives.
This confidence comes in the wake of favourable financial results for the year to August, reported today.
Sekunjalo reported revenue of R620.5 million, up from last year's R569.2 million. Gross profit grew to R194.3 million, from R178.5 million in 2013, while profit attributable to equity holders rose to R96.8 million, from R29.7 million last year. Headline earnings per share went from 6.10c per share last year, to 16.03c per share this year.
"The board of directors has approved and declared a gross final dividend of 2c per share for the year ended 31 August 2014 from income reserves," said the company in its stock exchange announcement today.
"Our strategic intent to increase value in our core operational investments in our technology, marine, healthcare and biotechnology, and enterprise development sectors has shown excellent growth during the current year and the group built a strong platform for further growth over the next few years."
Growth target
The company said in April that it aimed to grow its IT unit into an entity that would overtake its largest revenue-spinner - its fishing operations - and bring in income of between R400 million and R500 million over the next few years.
The group indicated it was on the lookout for small acquisitions to add to its capability, as well as a large deal that would cost it anywhere between R50 million and R200 million.
At the time CEO Khalid Abdulla said the group could afford a large deal, given it had R619 million in the bank, a strong balance sheet and very little debt.
Abdulla said the group's IT division was showing strong growth year-on-year and had proven itself in the IT market.
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