(Corrects Wednesday story to show H2 seen strong)
* H1 headline EPS 727 cts vs 725 cts
* H1 revenue up 22 pct to 38.39 bln rand
* Says store core performance to continue in H2
JOHANNESBURG, Feb 22 (Reuters) – South African
logistics firm Imperial reported a flat first-half
profit, after last year’s results were lifted by a black
empowerment deal, and said it expected continued strong
underlying growth in the second half.
South Africa’s biggest logistics and car dealership group
said on Wednesday headline earnings per share for the six months
to end-December totalled 727 cents, compared with 725 cents a
year earlier.
Last year’s results were boosted by 279 million rand ($36.17
million) in income related to its Lereko black empowerment deal
that did not repeat. South African companies are required to
increase their black ownership to meet government-mandated
targets.
Imperial said its core earnings, which exclude one-time
items such as the black empowerment deal, rose 30 percent,
adding it expected similar strong growth in the second half.
“While the current economic environment will continue to be
challenging, Imperial’s businesses should continue performing
well in most of their markets,” the company said in a statement.
Imperial, which also operates auto retail and rental
businesses, said revenue rose 22 percent to 38.4 billion rand
($5 billion).
Shares in the company are up 8 percent so far this year,
compared with a 6.63 percent rise in the JSE All-Share index
.
($1 = 7.7140 South African rand)
(Reporting by Agnieszka Flak; Editing by David Dolan)
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