KWV Limited’s interim figures for the first six months to 31 December 2002 showed an all-round improvement, with headline earnings up 22.9% to R71.92m after adjustment.
Turnover rose 21.2% from R483.3m in the first half 2001 to R585.7m ofr this year, while gross profits increased by 23.1% to R223.3m. Volume growth of branded export products was up 23%.
The company attributed this to a satisfactory volume growth of 23% in respect of exports of branded products, as well as growth in the sale of spirits products.
Operating income increased by 52.7% from R43.7m to R66.8m for the period under review.
In spite of all this good news no interim dividend was declared.
In previewing the prospects for the next six months chairman Lourens Jonker pointed out that the domestic economy was growing at a moderate rate, while projections for export markets were less favourable, especially in the light of the strengthening Rand.
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The demand for alcoholic beverages therefore remained under pressure in extremely competitive circumstances.
