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New acquisition boosts ARB Holdings

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Nigeria News News

Radiant, which the group bought in January 2019, helped to lift revenue in the lighting division by more than a third

Electrical wholesaler and lighting distributor ARB Holdings said on Thursday that recent acquisitions helped to boost revenue in the half year to end-December, though it continues to feel the pinch from reduced spending by power utility Eskom.

Operating profit rose 16% to R106.3m to end-December, while headline earnings per share rose 40.9% to 32.65c, the group said. Turnover in the group’s electrical division decreased by 4.5% to R1.04bn due to the lack of big infrastructure projects, with Eskom’s spending on electrification remaining “inconsistent”.

 

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