Remgro’s CIVH narrows losses as group doubles earnings

Remgro’s earnings are back above pre-COVID-19 levels, due to improved performance by its investee companies, including its fibre entity Community Investment Ventures Holdings .

The increase in headline earnings, Remgro says, is mainly due to higher contributions from Mediclinic, Grindrod Shipping, TotalEnergies, FirstRand, CIVH , Grindrod and RCL Foods, as well as lower finance costs. DFA has deployed over 16 000km of ducting infrastructure in major South African metros, secondary cities and smaller towns.

Remgro says the decrease in losses is mainly due to the settlement of head office debt, resulting from two rights issues, and improved performances by the underlying businesses.

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Operating costs, forex losses knock Seacom earningsSeacom’s contribution to Remgro’s headline earnings fell by 77% in the year ended December 2021, driven lower by increased operational costs and forex losses.
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