A good one to store if you can get hold of it
Metrofile has had a lot to deal with over the past few months. The document storage group is about to undergo a change in leadership, it is in the process of bedding down two acquisitions and it is overcoming the interruption caused by a fire at its KwaZulu-Natal facility.
With so much on its plate, it would be understandable if it took its eye off the ball and its results started to slip. Looking at the drop in earnings in its latest numbers, you could very well make a case for this.
Revenue was up only 4% to R701,9m, operating profit declined 13% to R186,8m and profit before tax dropped 17% to R173,7m for the year to end June.
These numbers, however, do not tell the whole story, as they leave out the proceeds of a 36-month business interruption insurance claim resulting from the fire.
When the insurance claim is included, revenue increases 14% to R720,9m, earnings before interest, taxation, depreciation and amortisation (Ebitda) rise