Stefanutti’s diluted headline earnings per share up 30% - CNBC Africa

Stefanutti’s diluted headline earnings per share up 30%


by Trust Matsilele 0

Stefanutti’s diluted headline earnings per share up 30%. PHOTOS: swazilandreview

The group also reported earnings per share of 50 cents up from 39 cents in the same period last year.

(WATCH VIDEO: Stefanutti stocks FY HEPS down 28%)

The company’s unaudited condensed consolidated results for the six months ended 31 August 2014 also saw the group revenue at 5.3 billion rand.

Stefanutti reported operating profit of 132 million rand with cash generated from operations of 310 million rand.

“The group has produced a satisfactory performance for the first six months in line with management's expectations,” the group said in a statement.

“We have made good progress on our stated recovery plan and the results therefrom are expected to continue improving the group's performance.”

The company also said that although the legacy loss-making projects in the Building Inland division are now behind, the effects of finalising the unprofitable projects were still being felt.

[DATA SSK:Stefanutti Stocks Holdings Limited]’s order book is currently at 12.7 billion rand.

The company said markets, especially those within which Structures operate, are still under pressure and will remain so for the short to medium term.

“Although there are opportunities for Building, its margins continue to remain under pressure.”

The group said a number of bulk pipeline and open pit mining projects are expected to come to the market in the short to medium term.

“With the lack of current large infrastructure projects, Stefanutti Stocks will continue to maintain its order book on the back of medium-sized projects and will continue to manage the current economic and market challenges.”