Women Investment Portfolio Holdings (Wiphold) increased its headline earnings to 2.2c a share in the six months to August, compared with a headline loss per share of 0.1c in the year-earlier period.
<B>Salient figures</B>
Wiphold results for the six months to 31 August 2002.
Year-earlier figures in parentheses:
Total income: R95.34m (R35.38m)
Profit before amortisation: R68.78m (R11.98m)
Profit before tax: R42.85m (R2.37m)
Profit after tax: R36.94m (R2.42m)
Net profit: R40.32m (R2.21m)
EPS: 32.2c (1.8c)
HEPS: 2.2c (-0.1c)
Current assets: R258.96m (R150.1m)
Cash equivalents: R243.38m (R138.86m)
Current liabilities: R7.69m (R9.39m)
Wiphold is an investment company that invests in listed and unlisted companies in the financial services, consumer goods and services, media, telecommunications, IT, tourism and leisure sectors. Last month it acquired a 20% stake in international technology group ABB`s local holding company for an undisclosed sum.
CEO Louisa Mojela says an improved performance in the first half of the financial year resulted in a growth in fee income to R15 million from R3 million a year before.
Total income increased from R35.38 million to R95.34 million. Total income includes that from bond broking and trading, income from operations, interest and dividends.
Mojela says interest income of R17.22 million is higher than the previous R9.47 million because of the higher average cash balances Wiphold held until June and also as a result of the steadily increasing yields held.
Costs were contained at historic levels for the period.
Mojela says the group continues to embrace empowerment at all levels. At an employee level, the professional staff composition is 49% black and 33% female. It is in discussions to increase its economic empowerment shareholding. "If successful, the group will be well placed to compete for mandates and investment opportunities in the market where emphasis is placed on empowerment."
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