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BRIEF-ARB Holdings H1 revenue down 5 pct to 1.1 bln rand
February 12, 2015 / 5:21 AM / 3 years ago

BRIEF-ARB Holdings H1 revenue down 5 pct to 1.1 bln rand

Feb 12 (Reuters) - Arb Holdings Ltd

* Unaudited interim results for six months ended 31 December 2014

* Revenue down 5 pct to r1.1 billion

* Operating profit down 3 pct to r98 million

* Headline EPS down 0.4 pct to 24.79 cents

* Ungeared, with r129 million net cash on hand

* Revenue decline was mainly due to a decrease in activity in electrical division while lighting division continued to show market share gains

* Electrical division’s turnover was hampered by decline in ESKOM’s reticulation projects and numsa strike in July 2014

* Overall gross margin increased from 21.6 pct to 22.5 pct

* Lighting division is well-placed to carry its positive momentum into second half of financial year and steps have been taken in electrical division to improve its market competitiveness and profitability

* Ongoing power load shedding envisaged by ESKOM presents significant challenges to all south african businesses

* Group has taken measures to ensure that it has alternative back up power to facilitate trading during any future outages

* Billy Neasham (financial director) will continue in role as acting chief executive officer until a suitable replacement is appointed Source text for Eikon: Further company coverage:

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