A JVC Dual Party Speaker, oe of many branded household goods marketed by Nu-World Holdings
Image: Nu-World website
Nu-World Holdings, the JSE-listed company that assembles and markets branded consumer goods internationally, increased headline earnings per share (HEPS) by a sturdy 29,9% for the six months to February 28, boosted by its consumer electronics sales.
HEPS came in at 227,7 cents versus 175,4 cents for the same time a year before, the company said in its interim results published Thursday.
The South Africa-based company with subsidiaries in Australia, Brazil, Dubai and Hong Kong, said the earnings were generated off revenue that only increased by 2,6% to R1,28 billion.
Profit attributable to equity holders increased by 29,2% to R46,98 million. Net asset value (cents per share) came to 7 511,4 cents per share.
Local sales remained flat with the prior year, while the international sales increased by 6,1%, CEO Jeffrey Goldberg and CFO Graham Hindle said in the results.
Despite marginal turnover increases, attributable income increased by 32,6% locally and 23,8% internationally. The local operating income to turnover ratio improved from 5,2% to 6,4% arising from improved gross margins and curtailing operational expenses.
In South Africa operations, consumer electronics, both visual and audio, showed strong growth during the period, especially the international brands JVC and Telefunken, Goldberg and Hindle said.
The white goods category performed well during the first half of the 2026 period due to the launch of the JVC white goods range with additional listings and enhanced product range, they said.
The seasonal summer category came under pressure due to the moderate climate conditions over much of the country, the directors said.
Other traditional categories, such as small domestic appliances, furniture and liquor, were under pressure due to poor consumer confidence and low discretionary spend in these categories.
Offshore operations increased revenue by 6,1% despite negative sales growth in Australia and operational gross margins and profitability coming under pressure due to higher operating costs and expenditure.
The other offshore operations' sales and profitability increased substantially due to the increased demand for JVC TV and audio in several regions.
“The company continues to focus on various opportunities,” the directors said.
The South African business operations contributed 63,1% of the group’s revenue and 62,6% of group attributable profit. Offshore operations accounted for 36,9% of the group’s revenue and 37,4% of the group attributable profit.
Nu-World Holdings’ thinly traded share price was unchanged at R28 on Thursday afternoon on the JSE, a price 12% higher than the year before.
Vsit:www.businessreport.co.za