ARB maintains growth in tough environment

JSE-listed ARB Holdings on Thursday posted a 34% hike in headline earnings per share (HEPS) to 37.62c for the six months ended December 31, mostly owing to a put option International Financial Reporting Standards (IFRS) adjustment. Nearly 21%, or 5.88c, of the HEPS increase was the positive result of a R13.8-million decrease in the IFRS fair value of the put option liability arising from the option issued to the minority shareholders in 60%-owned Eurolux.