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”.
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:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elections boost business confidence | IOL Business ReportThe incoming administration is set to inherit improved business confidence after sentiment rose in April for the first time since January in anticipation of a more stable post-election policy environment. busrep busrep You are as gullible as the 30percenters
Source: IOL - 🏆 46. / 51 Read more »
Business Maverick: Ghosn’s Successor Tied to Short Leash as Nissan Profit PlummetsCarlos Ghosn’s arrest threw Nissan Motor Co. into a corporate tailspin with allegations of self-dealing, profligate spending and filing false statements. Now the automaker’s profits are falling off a cliff, and successor Hiroto Saikawa may go down with them.
Source: dailymaverick - 🏆 3. / 84 Read more »
Many big businesses treat SMEs as a line of credit, Small Business Institute saysSmall and medium enterprises are urged to claim interest and debt recovery costs for late payments Don’t understand why invoices are being paid more than 30 days later...especially when the institution requested urgent delivery and we complied within days. Totally unacceptable, small business is not sustainable when payment is not forthcoming...
Source: BDliveSA - 🏆 12. / 63 Read more »
Astral slashes interim dividend as earnings fallFeed price and production cost increases could not be recovered by increasing sales due to consumers’ inability to absorb price increases, company says
Source: BDliveSA - 🏆 12. / 63 Read more »