Friday, 30 January 2009

Imperial latest victim of sales slump

Imperial Holdings Ltd., South Africa’s largest automobile dealer, snnounced the worst car sales in almost two decades. Earnings per share before one-time gains fell to between 4 rand and 4.50 rand in the last six months.

Imperial booked a 485 million-rand ($48 million) profit from the sale of its 62 percent stake in Tourism Investment Corp. and a 394 million-rand foreign-currency gain from its European unit.

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