Imperial News
UPDATE 1-IMPERIAL sees higher FY profit, auto unit robust - RTRS
10 May 2010

* JOHANNESBURG, May 10 (Reuters) - South African industrial group Imperial Holdings Ltd IPLJ.J expects to report a 25-45 percent rise in full-year headline EPS boosted largely by its auto retailing unit, sending shares more than 5 percent higher. Imperial, whose activities cover auto retailing, rental and logistics, said on Monday earnings per share -- which normally includes one-off and financial items -- would be between 22-42 percent higher. The company said the results were largely bolstered by its auto retailing unit, which is benefiting from cost cuts and improved consumer demand.

South Africa's new vehicle sales have been rising since the beginning of the year as demand in the sector pick up after two years of sharp declines. But Imperial said it's car rental division would reap limited benefits from the soccer World Cup while its logistics unit in Europe and southern Africa was showing signs of recovery. Shares of the company rose 5.35 percent to 100.60 rand by 0856 GMT, outpacing a 2.49 percent rise in the JSE's mid cap index .JMIDC


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