Core earnings per share were also up 15% to 1‚871 cents‚ with operating profit for the year improving 8% to R6.087bn.These results were achieved on the back of a 14% growth in revenue to R92.382bn. Based on core earnings‚ the group's return on equity for the period was 23%.
The group declared a final dividend of 440 cents per share‚ which was up 16% on that for the previous year.
"Imperial achieved a pleasing result for its 2013 financial year. All divisions achieved operating profit growth as the portfolio proved to be resilient amid challenging trading conditions in South Africa and Europe. The group made good progress during the year in enhancing its portfolio of businesses by exiting sub-scale operations and adding areas of strategic growth that will maximise returns for our shareholders‚" the group said.
It added: "Our strategic objective is to drive the improvement of returns on capital‚ as this is the generator of value for our shareholders. In line with this objective‚ the group achieved a return on invested capital (ROIC) of 16.2% for the year against a weighted average cost of capital (WACC) of 8.8%. Our target is to achieve a ROIC of 4% above WACC through the cycle.
"The group is seeking growth opportunities in adjacent and industries and regions. In this regard we have benefited from a full-year contribution of Lehnkering and a six-month contribution from the pharmaceutical logistics related acquisition of Imperial Health Sciences (previously RTT Health Sciences)‚ which performed ahead of expectations.
"Operating profit generated in Africa outside South Africa rose by 33% to R397m and has doubled over the last three years. Operating profit from international activities (excluding South Africa) increased to 21% of the group result from 17% in 2012," the statement added.
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