WBHO headline earnings per share rise by 183%

CAPE TOWN – Wilson Bayly Holmes-Ovcon (WBHO) lifted headline earnings a share by 183percent to 411cents after a solid performance in its Africa and UK operations in the six months to December 31, but tempered by further losses in Australia.

Group revenue was up 14percent to R23billion. Reflecting a turnaround compared with the same time last year, earnings per share increased by 208percent to 412c per share. An interim dividend of 80c per share was declared, compared with zero dividend for the same period, a year before.

The share price closed 4.03percent lower at R99.49 on the JSE yesterday.

Cash balances of R5.1bn were greater than those of R4.3bn at December 31, 2018, due to strong cash generation in the African and UK operations.

Cash balances had, however, decreased by R823million since June 30, due to the usual early settlement of subcontractors in Australia, ahead of the holiday season.