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
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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. |
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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. |
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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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