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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