Di­ver­si­fi­ca­tion pay­ing off

Finweek English Edition - - Companies & Markets -

CON­SUMER GOODS COM­PANY Nu-World Hold­ings is on a re­bound af­ter spend­ing some time in the dol­drums. The group – whose sub­sidiaries man­u­fac­ture, im­port and ex­port a wide range of elec­tri­cal ap­pli­ances and branded con­sumer durables – says its ra­tio­nal­i­sa­tion ex­er­cise, em­barked on in its last fi­nan­cial year, has started to bear fruit, aided by a re­cov­ery (though slow) in con­sumer spend­ing on durable goods.

Its end-Fe­bru­ary in­terim re­sults are tes­ti­mo­nial. Over that pe­riod Nu-World lifted group rev­enue from con­tin­u­ing op­er­a­tions by 17,8% to R926,8m while head­line earn­ings per share jumped 101,8% to 168,7c – and ended the pe­riod with a strong bal­ance sheet. Its di­rec­tors are now con­fi­dent the group is leaner and bet­ter po­si­tioned to sup­port sus­tain­able growth over the medium term.

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