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Cashbuild fiscal H1 profit climbs 35.6% YOY

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Investment Banking Essentials: February 21

Cashbuild fiscal H1 profit climbs 35.6% YOY

Cashbuild Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to 9.90 rand per share, a gain of 37.9% from 7.19 rand per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 226.0 million rand, an increase of 35.6% from 166.6 million rand in the prior-year period.

Total revenue climbed 13.7% year over year to 4.51 billion rand from 3.97 billion rand, and total operating expenses rose 12.4% on an annual basis to 4.18 billion rand from 3.72 billion rand.

Reported net income rose from the prior-year period to 193.2 million rand, or 8.47 rand per share, from 189.3 million rand, or 8.16 rand per share.

As of March 1, US$1 was equivalent to 15.65 rand.