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SKJ - The Sekunjalo Investment Group - Sekunjalo Delivers A Strong Performance

Release Date: 21/05/2009 07:21
Code(s): SKJ
Wrap Text

SKJ - The Sekunjalo Investment Group - Sekunjalo Delivers A Strong Performance The Sekunjalo Investment Group Sekunjalo Investments Limited (SIL) Incorporated in the Republic of South Africa Registration number 1996/006093/06 Share Code: SKJ & ISIN: ZAE 000017893 ("Sekunjalo" or "the Group") SEKUNJALO DELIVERS A STRONG PERFORMANCE Group shows spectacular turnaround amid challenging economic environment -Headline earnings per share up 111% -Headline earnings up 113% -Net asset value per share up 53% -Operating profit up 133% Top ranked black investment holding company, Sekunjalo today released its interim results. Sekunjalo Executive Chairman, Dr Iqbal Surve was pleased to announce today that the Group has delivered a significant turnaround for the period to 28 February 2009. This turnaround has been due to restructuring of the Group, greater efficiencies of businesses, decentralization of business units, new markets for the Groups businesses and significant new Government contracts. Sekunjalo`s operating profit of the Group went from a loss of R43.5 million in 2008 to an operating profit of R14.2 million in 2009. Sekunjalo Executive Chairman said "the restructuring of the Group into a decentralized operation has decreased corporate overheads and created efficiencies in the various business units." Premier Fishing, one of the largest black-owned fishing companies in the country, produced a superb performance compared to the previous financial year. The positive performance was underpinned by reduced fuel costs, strong catching across all fishing rights, maintenance of pricing levels despite the global crisis as well as a favourable rand / dollar exchange rate. Peter van Zyl, the Group Commercial Director, said "the Group`s Informatics division has performed well across its subsidiaries, synergy Business Intelligence, FIOS, Saratoga Software as well as being awarded new Government contracts in Health System Technologies." He also emphasized that the Financial Services division showed a significant turnaround to the previous year. The restructuring of this division resulted in a profitable performance despite some once-off items. Sekunjalo has strengthened its pharmaceutical business through the growth of its partnership with Julphar Gulf Pharmaceuticals and increased focus on its own brands namely, betnovate, fortum, dermovate and becotide. The Group`s biotechnology business continues to be the top ranked biotech company in Africa and has made significant strides in increasing its manufacturing capabilities as well as growing its distribution channels into new markets. The Group`s investment in aquaculture continues to grow amid investment into its infrastructure to enable a greater stock holding of biological assets. The Group`s Executive Chairman, Dr Iqbal Surve said "the aquaculture business is now well positioned to expand into new areas and explore new technologies." The Group`s partnership with global giant, British Telecom continues to perform exceptionally well. In addition, the Cape Town International Jazz Festival was again a great success in 2009 and the Group looks forward to its positive contribution at year-end. The Executive Chairman Dr Iqbal Surve says "the Group`s prospects are excellent because it has low gearing, a strong asset base, strong cash flow from the subsidiaries, high growth investments along with a credible black empowerment status which makes it a partner of choice for global companies." The Group`s pre-eminent black economic empowerment status and World Economic Forum New Champion Founder Member has opened doors for it on an African and global scale. Contacts on behalf of: Sekunjalo Investments Limited Peter van Zyl Group Commercial Director Tel (021) 419 0124 Mobile 083 680 5740 Or Cherie Hendricks Executive Director & Company Secretary Tel: (021) 419 0124 / 415 7953 Mobile: 083 718 4493 Cape Town 21 May 2009 Date: 21/05/2009 07:21:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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