says half-year headline earnings grew 17% thanks to a strong performance from its business that services SA’s ubiquitous minibus taxi industry.
The group, which owns SA Taxi and Transaction Capital Risk Services , said headline earnings in the six months to end-March grew to R363m. It raised its interim dividend 29% to 27c a share. The SA Taxi business grew total headline earnings 31% as its loans and advances portfolio, comprising 31,543 vehicles, grew 14% to R10.1bn.“By working closely with the Santaco leadership, we have made great progress in ensuring that our initiatives deliver sustainable benefits to our clients, the industry as a whole, and more importantly, the 15-million commuting population,” said Transaction Capital CEO David Hurwitz.TCRS, which operates in SA and Australia, grew headline earnings 13% to R134m.
Hurwitz said Transaction Capital expected to produce “robust organic earnings and dividend growth over the medium term, at least in line with the group’s past performance”.
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