Reunert hikes dividend in tough market

  • 📰 TechCentral
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 71%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Reunert has increased its interim dividend by 7% to 75c/share, despite tough trading conditions that saw it eke out a 1% year-on-year improvement in headline earnings per share.

its interim dividend by 7% to 75c/share, despite tough trading conditions that saw it eke out a 1% year-on-year improvement in headline earnings per share.

There was a continued underspending by government and state-owned enterprises on electrical infrastructure in the period. This, coupled with increased logistics costs, extended supply chains, global electronic component shortages and high commodity prices exacerbated by the Russia-Ukraine war, all adversely impacted input costs, Reunert said. A strike in Reunert’s Electrical Engineering segment also served to crimp output – by about 14%.

Reunert’s ICT segment, meanwhile, delivered results in line with expectations. Segment operating profit rose by 4% to R305-million. Communications businesses ECN and SkyWire maintained their profitability at the same level as a year ago despite pressures caused by the economic environment and load shedding.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in CA

Canada Canada Latest News, Canada Canada Headlines