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Group Five weathers tough markets

• Revenue down 4% to R5,7 billion (2008: R6 billion).

• Fully diluted earnings per share up 10% to 239 cents per share (2008: 218 cents per share).
• Fully diluted HEPS (FDHEPS) up 8% to 249 cents per share (2008: 230 cents per share).
• Operating profit, excluding fair value adjustments, up 6% from R377 million to R399-million
o After fair value adjustments, operating profit increased by 5,4% to R410 million (2008: R389-million).
• Operating margin improved from 6,3% to 7,0%
o Construction margin up from 5,3% to 6,4%. This is extremely satisfactory in light of the group's stated objective of maintaining a margin in excess of 5% in Construction
• The net increase in cash and cash equivalents for the period was more than double that of the prior period, with a R464-million increase (2008: increase R222-million).
o Cash and cash equivalents on hand at the end of the period was up 58% to R3,2 billion (R2-billion).
• Very healthy balance sheet, with no net gearing.
• The interim dividend up by 9% to 63 cents (2008: 58 cents).

 

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