Revenue
increased
7.0% to R4 302 million


Operating profit
increased
17.1% to R533 million
Cash generated by operations before working capital changes increased 10.8% to R1 493 million
Diluted headline
earnings
per share
increased
31.1% to 46.8 cents
Profit before
taxation excluding
impairments increased
15.8% to R264 million

Revenue
generating
assets increased
2.9% to R9 146 million
 

Financial Statements

arrow Condensed group statement of financial position
arrow Condensed group income statement
arrow Condensed group statement of comprehensive income
arrow Condensed group discontinued operations income statement
arrow Condensed group statement of changes in equity
arrow Condensed group statement of cash flows
arrow Condensed group statement of discontinued cash flows
arrow Segment information – condensed statement of financial position
arrow Segment information – condensed income statement
arrow Notes


Commentary

Introduction

Eqstra Holdings Limited (“the group”) produced satisfactory results with an improvement in diluted headline earnings per share in a challenging environment, entrenching the sustainability of the group.

Overview of continuing operations

Revenue increased by 7.0% to R4 302 million (H1’12: R4 022 million) due to increased production volumes recorded by Contract Mining and Plant Rental, growth in leasing revenues in Fleet Management and Logistics and increased new unit sales in Industrial Equipment.
Profit before taxation increased by 15.8% excluding the impact of impairments . Profit before taxation including impairments decreased by 6.8% to R245 million (H1’12: R263 million) mainly due to a weaker performance from Fleet Management and Logistics.
Revenue-generating assets (leasing assets and finance lease receivables) increased by R262 million or 2.9% to R9 146 million (H2’12: R8 884 million) with good leasing asset growth recorded in Fleet Management and Logistics and Industrial Equipment. The leasing asset fleet of Contract Mining and Plant Rental has decreased marginally as expansionary capital expenditure was curtailed.

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