You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App
Join our mailing list to receive top business news every weekday morning.

KAP Industrial posts 25% fall in annual profit

Attributes fall to the impact of an accounting change on a BEE transaction.
KAP Industrial Holdings Heps fall to 45.9 cents. Picture: Supplied

South Africa’s KAP Industrial on Tuesday reported a 25% fall in full-year profit citing the impact of an accounting change on a black economic empowerment transaction.

Headline earnings per share (Heps) stood at 45.9 cents per share in the year to June 30, down from 61.6 cents per share a year earlier.

Heps strips out certain one-off items and is the main profit gauge in South Africa. 

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   1

You must be signed in to comment.

SIGN IN SIGN UP

Not sure why people are still holding on to KAP shares. Their financials are rigged in the same way Steinhof was. The BBBEE transaction is not a once off problem but just a distraction from the real financial problems, and there are other major issues which are lurking in the background and will have to eventually come to the surface in the same way Steinhof had.
There are too many issues with this highly diversified and lack of identity company. Its chemicals division is a mess, its timber division is still trying to defend an anti competitive ruling which it eventually will loose seeing that its only competitor has admitted to collusion.

KAP was just slapped together by Markus Jooste to get rid off the badly acquired and managed industrial division which was over priced at the time of purchasing each entity which was a build up of his bigger sinister scheme of things.

It also lacks a strong dynamic CEO who could continue to hold it together in these tough times.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: