Diversification paying off
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.