AEEI scores 43% revenue growth
AFRICAN Equity Empowerment Investments (AEEI) reported a 43 percent increase in group revenue to R1.05bn for the year to August compared with R736m last year, while operating profit increased by 111 percent to R655m.
AEEI chief executive Khalid Abdulla said: “We have been fortunate to meet and, in most instances, exceed our targets for the year under review.”
The diversified investment empowerment company has operational investments in fishing and brands; technology; events and tourism; health and beauty; and biotherapeutics and strategic investments.
Premier Fishing and Brands also saw its profits jump by 31 percent to R68m for the year to August while normalised earnings a share and headline earnings a share surged 31 percent and 33 percent respectively.
Revenue shot up 2.24 percent to R411m, up from R402m, and the group declared a maiden dividend of 15 cents a share.
Premier Fishing chief executive Samir Saban said: “We will continue to grow our business organically and by acquisition, as well as focus on the expansion of our product basket to meet our customers’ demands.” – Sandile Mchunu