May 20, 2019 / 7:24 AM / 6 months ago

South Africa's Barloworld H1 earnings jump 14%

JOHANNESBURG, May 20 (Reuters) - South Africa’s Barloworld Ltd, a dealer for Caterpillar Inc and other industrial equipment brands, reported a 14.1% gain in first-half earnings on Monday, driven by its southern Africa Equipment division.

Headline earnings per share (HEPS) from continuing operations increased to 476 cents in the six months to March 31, from 457 cents a year earlier, the company said in a statement.

HEPS strips out once-off items ands is the main profit measure used in South Africa.

Barloworld, which sells construction, mining and industrial machinery in southern Africa and parts of Europe and also has a car sales and rental business, said it was in talks to acquire Wagner Asia Group, a Mongolian-based equipment dealer.

Barloworld announced an interim dividend of 165 cents per share, up 13.8 percent from 145 cents a year ago. (Reporting by Onke Ngcuka; Editing by Susan Fenton)

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