16 percent rise in FY profit for Imperial

This on lower foreign exchange losses and financing costs, the company said.

South African vehicles importer Imperial said on Friday that its full-year profit could increase as much as 16 percent on lower foreign exchange losses and financing costs.

Imperial this week announced that it has appointed CFO Mohammed Akojee acting CEO, while Osman Arbee, its current CEO, is off on medical leave until early next year.

The company’s headline earnings per share (Heps) for the year to 30 June is expected to rise to between 1,520 and 1,615 cents, up from 1,390 cents a year earlier.

Pictured: Mohanned Akojee, acting CEO of Imperial