Published 23 December 2019, 1:59 pm by Business Report
CAPE TOWN – JSE-listed African Equity Empowerment Investments Limited (AEEI), a diversified investment and empowerment company, today announced another set of exceptional financial results with a record increase in revenue, headline earnings and asset base for the year.
The Group’s financial results confirm the delivery of excellent revenue and profit growth resulting from strong contributions from all its underlying investments, with a combination of organic and acquisitive growth.
AEEI’s strategy to consistently increase its operations and portfolio is evident by the exceptional growth in Group revenue which increased significantly by 243% from R701 million to R2.4 billion.
Group headline earnings increased by 276% from R119 million to R448 million, with HEPS increasing from 24.24 cents to 91.16 cents. Net Asset Value (NAV) for the Group grew by 12% from R5.6 billion to R6.3 billion, while net cash generated from operating activities increased by 9% year-on-year from R131 million to R143 million, all of which is in line with the Group’s strategy.
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