Quyn, the diversified financial and property holding group, yesterday reported a 22.2 percent decrease in operating income to R803 000 for the six months to August.
Revenue surged to R43.06 million from R40.26 million the previous period. The group said its outsourcing division has returned to profitability and anticipated it would continue its recovery. The division contributed R449 000 to Quyn's profits compared with R93 000 last year. The Colliers Property division boosted profits to R1 million from R426 000.
Headline loss per share is 1c from 2.7c the previous period. Net asset value per share surged 20.4 percent to 38.9c.
It said the Mozambique operation had been discontinued mainly as a result of logistical and exchange control problems. It contributed R443 000 in the last period.