Raubex records strong interim financial performance
7TH NOVEMBER 2022
BY: TASNEEM BULBULIA
CREAMER MEDIA REPORTER
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JSE-listed Raubex navigated tough macroeconomic and inflationary pressures, as well as supply chain constraints, to achieve a pleasing group performance, supported by all four divisions,” CEO Felicia Msiza says in an unaudited interim results statement for the six months ended August 31.
“The group strategy to diversify into Australia, public-private partnerships (PPPs) and mining is proving successful. These initiatives were key contributors to the robust results with Australia continuing its solid performance from last year.
“Our talented teams and strength in leadership underpin our ability to extract further value from the portfolio, as we deliver on our secured order book and leverage our healthy balance sheet to build on our diversification efforts,” Msiza adds.
For the period, revenue increased by 23.2% year-on-year to R7.38-billion, while operating profit increased by 26.4% to R550.3-million.
Headline earnings a share increased by 16.1% to 159c and earnings a share by 15.1% to 161.8c.
Cash generated from operations increased by 145.7% to R589.3-million.
The company’s net asset value stood at R5.41-billion at the end of the six months under review.
It invested capital expenditure of R394.5-million in the six months, while its order book stood at R16.40-billion as at August 31.
Raubex has declared a gross interim cash dividend from income reserves of 53c apiece.