Shaft Sinkers profits rise 34pc

Pre-tax profits at South African underground construction group Shaft Sinkers Holdings rose by 34 per cent to £16.7m from £12.5m for the year to December. Having raised around £30.6m from listing on the London Stock Exchange on 23 December, revenue for the group was up 24 per cent to £183.1m from £147.9m. Basic earnings per share rose 27 per cent to 30p from 24p. Although no final dividend was proposed, Shaft Sinkers said it planned to commence payment this year.