MICROmega reports profit slip
Listed diversified investment company, MICROmega Holdings on Monday (30 September) reported a decline in revenue for the six months ended June 2012, to R372.3 million, from R385.2 million before.
The group identified a profit for the period of R25.65 million, from R29.5 million, including profit from discontinued operations of R7.1 million.
“The results for the period under review were achieved under difficult circumstances that have now fallen away,” the group said in a statement on SENS.
“Revenue was slightly below that of the six months of the prior year however strict comparison is not appropriate. The Deltec (Deltec Power Distributors) business was disposed of last year but contributed R48 million of revenue to June 2012.”
MICROmega reported headline earnings per share of 26.02 cents, from 25.72 cents in 2012.
Looking ahead, the group said that profitability for the 2012 financial year was significantly skewed in favour of the first 6 months to June 2012.
“We are presently compiling latest forecasts for the balance of the year and, while it is premature to give specific guidance at this time, the board is comfortable with the current performance of the group companies,” it said.
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