Remgro, chaired by South Africa’s wealthiest man Johann Rupert, has seen a massive jump in headline earnings. <\/p>\n\n\n\n
The group said the first half of the 2025 financial year saw a positive trend following its strategic focus on disciplined capital allocation and active partnerships to drive company performance. <\/p>\n\n\n\n
Remgro houses the South African assets of the Rupert empire, with its history dating back to his father Anton’s company Rembrandt. <\/p>\n\n\n\n
The company has large stakes in OUTsurance, the Blue Bulls, Mediclinic, SEACOM and more. However, most of Rupert’s wealth is tied to Richemont, a luxury goods company that owns Cartier and Montblanc. <\/p>\n\n\n\n
The group said that the period under review was characterised by global macroeconomic and geopolitical instability. <\/p>\n\n\n\n
However, the local operating environment showed moderation due to improved investor and consumer confidence, ongoing traction on political reform and positive key economic indicators. <\/p>\n\n\n\n
Headline earnings increased by 38.7% from the restated R2,687 million to R3,728 million, while headline earnings per share (HEPS) increased by 38.6% from the restated 485 cents to 672 cents. <\/p>\n\n\n\n
The increase in headline earnings was due to improved operational performances from most of its companies, including Rainbow Chicken, RCL Foods, OUTsurance and Mediclinic. <\/p>\n\n\n\n
Heineken Beverages Holdings Limited also returned to profitability, driven by volume growth and margin recovery. <\/p>\n\n\n\n
However, this was partly offset by lower contributions from TotalEnergies Marketing South Africa Proprietary Limited, which delivered R331 million less due to negative stock revaluations. <\/p>\n\n\n\n
Community Investment Ventures Holdings Proprietary Limited, the owner of Vumatel, also delivered R147 million less.<\/p>\n\n\n\n
This was on the back of increased borrowing costs due to higher average debt balances and a negative fair value adjustment on an interest rate hedge.<\/p>\n\n\n\n
Total earnings still amounted to a profit of R3,658 million, a marked improvement from the loss of R1,638 million in the prior period.<\/p>\n\n\n\n
The increase in earnings was mainly due to the increase in headline earnings, as well as an impairment and goodwill created by Heineken Beverages in the comparative period. <\/p>\n\n\n\n
The increase was partly offset by profits realised in the comparative period relating to the disposals\/termination of DC Foods Proprietary Limited, Vector Logistics and Gordon Gin’s agreement. <\/p>\n\n\n\n
Moreover, the increase in headline earnings also factors in a substantial restatement in the comparative period following an accounting error in TotalEnergies’ annual financial statements for 2023. <\/p>\n\n\n\n
The fair value of its disposal group, primarily its investment in Natref, was initially incorrectly accounted for. This led to a higher write-down of TotalEnergies’ affected net assets, impacting Remgro’s results. <\/p>\n\n\n\n
On the back of the increased headline earnings, the group declared an interim dividend of 20% to 96 cents per share. <\/p>\n\n\n\n Remgro has seen a substantial jump in earnings, with the company seeing renewed optimism in South Africa. <\/p>\n","protected":false},"author":95,"featured_media":720040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[22108,4665,39],"class_list":["post-817979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-remgo","tag-richemont","tag-seacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=817979"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817979\/revisions"}],"predecessor-version":[{"id":818002,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817979\/revisions\/818002"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/720040"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=817979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=817979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=817979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Financials<\/strong><\/td> H124<\/strong><\/td> H125<\/strong><\/td> % Change<\/strong><\/td><\/tr> Revenue (Rm)<\/td> 25 414<\/td> 26 395<\/td> +3.8%<\/td><\/tr> Net profit\/loss (Rm)<\/td> (919)<\/td> 3 922<\/td> +526.76%<\/td><\/tr> Total headline earnings (Rm)<\/td> 2 687<\/td> 3 728<\/td> +38.74%<\/td><\/tr> Headline earnings per share (cents)<\/td> 485<\/td> 672 <\/td> +38.7%<\/td><\/tr> Interim Dividend (cents)<\/td> 80<\/td> 96<\/td> +20%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"