The company said this was as a result of once-off impacts and restructuring costs in the prior year and this period.
The weighted average number of shares in issue was up slightly from 141.1 million shares to 141.3 million shares and did not have a material impact on EPS and HEPS.
On a revenue level, most of Jasco’s businesses performed well and partly compensated for the high base of the previous period, which included Lighting Structures and Telecom Structures that were sold in the previous year.
Consequently, the group’s revenue decreased by 4 per cent to R526.7 million compared to R552.1 million in 2012. Excluding the R45 million revenue contribution from Lighting Structures and Telecommunications Structures, revenue on a like-for-like basis, increased by 5 per cent.
Group profit before interest and taxation decreased by 33 per cent from R19 million in December 2012 to R12.8 million in 2013. This the company said was mainly due to the once-off impacts and restructuring.
Headline earnings and headline earnings per share increased by 6 per cent to R7.5 million compared to R7.1 million in 2012 and 5.3 cents per share compared to 5 cents per share in 2012 respectively.
In line with the group’s strategy during the final year of the three-year restructuring programme and following the divestment of a number of businesses, the group was structured from three verticals into two with effect from F2014.
The ICT Solutions vertical contains the telecommunications and information technology businesses of ICT-Carrier, ICT-Enterprise and ICT-Networks.
The separate verticals of Industry Solutions and Energy Solutions have been combined to create the E&I Solutions vertical. This contains Electrical Manufacturers, Security and Power.
During the last six months to 31 December 2013, the majority of the group’s operational businesses, with the exception of the Security business, performed solidly.
The group’s rights offer was successfully concluded on 21 January 2014 and raised a net R55 million in funding for the group.