WESCO
| Ord price R385 | Market cap R3,25bn |
| Div yield 3,1% | 12-month high R420 |
| PE ratio 31,7 Sector PE 17 | Low R277 |
|
| Six months to | Income Rm | Attributable income Rm | Pretax profit Rm | Headline earnings per share (c) | Dividend per share (c) |
| Sep 04 | 26,4 | 80,1 | 104,9 | 1 203 | - |
| Mar 05 | 37,9 | 87,0 | 123,5 | 1 427 | 600 |
| Sep 05 | 8,9 | 158,7 | 165,4 | 1 867 | - |
| Mar 06 | 6,7 | 86,7 | 91,2 | 1 046 | 1 200 |
| Sep 06 | 4,4 | 25,1 | 27,0 | 169 | - |
| % chge | (51) | (84,2) | (84) | (91) | - |
Trading vol 12-month average: 105 000/month
Wesco's key asset, Toyota SA, was hit by a series of woes including low utilisation of new facilities, lower margins on sales, and costs being incurred to double annual production to 220 000 units by 2008. The result was a R36,8m loss, of which Wesco's share was R9,2m. Toyota should be profitable in the second six months, but a return to its (and Wesco's) recent profit levels is probably a way off.
22December2006
