KAP gears up for growth, announces solid interim results

Diversified industrial group KAP Industrial Holdings has raised R2-billion through the issuance of three- to five-year bond tenures to fund its future growth, the firm stated in its six-month interim results for the period ended December 31. Its revenue from continuing operations increased by 29% year-on-year to R11.5-billion, while operating profit from continuing operations increased by 25% to R1.4-billion, cash from operations before working capital improved by 24.6% to R2-billion and net asset value a share increased by 9% to 420c.