Alexan­der Forbes posts pos­i­tive re­sults fol­low­ing relist­ing

RISKSA Magazine - - CR -

Diver­si­fied fi­nan­cial ser­vices group, Alexan­der Forbes, said op­er­at­ing re­sults for the year end­ing 31 March re­mained ro­bust, de­spite sig­nif­i­cant cor­po­rate ac­tiv­ity within the group, in­clud­ing its relist­ing on the JSE and an in­ter­nal re­struc­ture. Af­ter seven years un­der the own­er­ship of pri­vate eq­uity firms, in­clud­ing Ac­tis and Ethos, and a BEE con­sor­tium un­der the Shan­duka um­brella, Alexan­der Forbes relisted on the JSE in July 2014. Its pri­vate in­vestors delisted it in 2007. Re­port­ing full- year fi­nan­cial re­sults for the first time since list­ing, Alexan­der Forbes in­creased op­er­at­ing in­come from con­tin­u­ing oper­a­tions by 12 per cent to R4.9 bil­lion. Profit from con­tin­u­ing oper­a­tions be­fore non-trad­ing and cap­i­tal items in­creased by 10 per cent to R1.1 bil­lion.

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