Reunert comprises a diversified portfolio of businesses in the fields of Electrical Engineering, Information Communication Technologies (ICT), and Applied Electronics. The Group was established in 1888, by Theodore Reunert and Otto Lenz, and has contributed to the South African economy in numerous ways. Reunert was listed on the JSE in 1948 and is included in the industrial goods and services (electronic and electrical equipment) sector of the JSE. The Group operates mainly in South Africa with minor operations in Australia, Lesotho, Mauritius, the USA, Zambia and Zimbabwe. Reunert’s offices are located in Woodmead, Johannesburg, South Africa.
Reunert’s financial results for the six-month period ended 31 March 2021 (H1FY:2021) improved significantly compared to the comparative period ended 31 March 2020 (H1FY:2020), although the recovery of operating profit to pre-COVID-19 levels continued to be adversely affected by the reduced economic activity associated with the pandemic.
Pleasingly, the Group’s segmental operating profit before impairment of financial assets increased by 14% to R448 million (H1FY:2020: R392 million) largely in line with the guidance provided in the annual results for the year ended 30 September 2020. The H1FY:2021 results include a good recovery in profitability in the Electrical Engineering Segment, with the Information Communication Technologies Segment performing in line with expectations. The Applied Electronics Segment was negatively impacted by lower than anticipated export sales and a stronger Rand. Our Group companies have fully adjusted to the new operating conditions required by COVID-19 and are operating smoothly, albeit at slightly lower volumes than the comparative period.
Unaudited condensed consolidated interim financial statements - PDF