Focus pays off for group

The Johannesburg Stock Exchange. File picture: Siphiwe Sibeko
DURBAN – Long4Life share price surged by more than 4 percent on the JSE yesterday after the group reported revenue of R3.64 billion for the year to end February.

The share price closed 3.61percent higher at R4.88.

The group said these results marked the group’s first full 12 months of trading since listing.

The group reported a trading profit of R454.2million and headline earnings per share of 38.7cents a share.

The share price rose to R4.96 after the release of the results, up from Tuesday’s closing price of R4.71.

The group said that it had cash on hand of R1.1bn at the end of the year.

The group’s strategy is focused on investment in the leisure and lifestyle sectors in both the emerged and emerging consumer markets and is currently structured into three operating divisions: sport and recreation, beverages and personal care and wellness.

The board had resolved not to declare a dividend for the year.

“In arriving at this decision, the board has taken into consideration the R159.6m spent on share repurchases and the prospects for further investments. While the group has no formal dividend policy at this stage, this position will be reviewed and assessed by the board,” the group said.