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Remgro’s CIVH narrows losses as group doubles earnings

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Investment group Remgro doubled headline earnings to R3.3 billion in the six months to end-December. Vumatel DFA fibre vumatel

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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