Iliad final results December 2010
Revenue increased by 0.2% from R3 921 million to R3 929 million in 2010. Gross profit increased by 0.8% to R1 073 million (2009: R1 065 million) while operating profit decreased by 38% to R77.1 million (2009: R124.2 million). Profit attributable to ordinary shareholders decreased by 28.1% to R53.7 million (2009: R74.6 million). Headline earnings per share decreased by 26.8% to 39.1cps (2009: 53.4cps).
A final dividend of 20cps was declared for the period under review.
The trading environment is expected to remain challenging in 2011, with a gradual trading recovery towards the end of the year. This will, however, depend on a sustainable recovery in building plans passed. Iliad will continue to invest in its sales structures to enhance customer focus, concentrate on the expense base and further improve its procurement capabilities to protect gross margins. The group is well structured and well capitalised and we believe all stakeholders will benefit from initiatives in place to support continued growth as our industry improves.
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