Cape Town - Sekunjalo Investments Limited announced on Tuesday that it had increased its annual profit to more than R100 million.
“Sekunjalo Investments Limited’s strategy to grow its businesses organically and to reinvest in their growth has yielded positive results for its shareholders,” it said in a statement on its annual results.
The company announced a “healthy increase” in its net asset value, of approximately 39 percent, and an increase in operating profit from R67m to R99m.
Profit before tax rose 84 percent from R59m to R108m.
“The board of directors and management team today expressed their appreciation for the stewardship and guidance provided by the executive chairman, Dr Survé in achieving these results and approved and declared a gross final dividend of two cents per share.”
This would be a maiden dividend.
Iqbal Survé said this positive performance was underpinned by the company’s “astute investments” in information communication technology, marine, health and biotherapeutics, and media.
“We followed a focused strategy of organic growth, debt reduction and continuous reinvestment in our business with the objective of building a solid and sustainable high growth company for the future. Our results are testimony that our strategy has worked,” he said.
“Our core operational investments in information communication technology, fishing, health and the media sectors have shown excellent growth. We’ve not only built sustainable companies but most importantly, delivered solid shareholder value.”
Survé said Sekunjalo contributed to shareholder value and it was one of the few companies that increased employment in the sectors in which it operated.
Survé congratulated management, led by CEO Khalid Abdulla, for implementing the sustainable growth strategy.
He said the group intended to increase its value and enhance its portfolio of investments in technology, food and fishing, aquaculture, biotechnology and health care, and telecommunications.
Sapa
* Sekunjalo owns Independent Media, of which IOL is a division.