CMH interim results August 2018
Revenue for the interim period grew to R5.6 billion (R5.1 billion) whilst gross profit rose to R908.9 million (R849.2 million). Operating profit was lower at R180.7 million (R189.6 million). Total profit and comprehensive income attributable to equity holders remained stable at R96.1 million (R96.1 million). Furthermore, headline earnings per share rose to 128.7 cents per share (128.5 cents per share).
A dividend (dividend number 61) of 61 cents per share will be paid on Tuesday, 18 December 2018 to members reflected in the share register of the Company at the close of business on the record date, Friday, 14 December 2018.
The financial outlook for the short-term future remains fragile. The economy contracted by 0,7% during the second quarter of 2018, and is expected to grow by less than 1,0% for the full year. Consumers have been hit by the VAT rate increase, and face further fuel price rises. Unemployment levels remain at record highs. On the positive side, interest rates have remained stable, and the stimulus package, announced as part of the Government's economic recovery plan, will provide some boost to business confidence. It is important that this injection is aligned with consistent policy and implementation aimed at attracting local and foreign investment, with the ultimate objective of promoting faster economic growth and job creation. The directors believe that the Group will have performed well if it is able to maintain headline earnings growth for the full year to February 2019.