Peregrine posts solid results as local divisions grow

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Peregrine posts solid results as local divisions grow

For the six months ended 30 September 2014, [DATA PGR:Peregrine Holdings LTD.]reported basic profit of 228 million rand, up from 150 million rand in 2013 with basic earnings per share increasing from 78 cents last year to 111.8 cents in 2014.

Headline earnings rose by 44 per cent to 217 million rand with headline earnings per share increasing by 43 per cent to 111.8 cents.

(WATCH VIDEO: Peregrine post a 44% increase in interim headline earnings)

Group operating profit revenue grew by 20 per cent to 1.1 billion rand while income from proprietary investing activities hiked up by over 100 per cent to 85 million rand.

“Proprietary investment returns were particularly strong whilst profits from offshore operations were slightly weaker largely as a result of the decreased activity in Stenham Property due to the focus by management on the sale of the business to GoGlobal Properties Limited (and subsequently renamed Stenprop) which became effective on 2 October 2014,” said the group in a statement.  

(READ MORE: S.Africa’s Peregrine to acquire stake in Java Capital)