Generator supplier Austro Group reported a massive 181 percent increase headline earnings to 10.9 cents for the interim period ended February compared with the same time a year ago.

In line with company policy, no dividend has been declared for the current period.

Revenue swelled 189 percent to R273.9-million, fuelled by an unparalleled demand for in the alternative power supply industry as well as constant demand in the construction and allied sectors.

Austro, which also imports and distribute woodworking machinery and tools, said: "The current power supply crisis has provided unprecedented opportunities for the generator side of the business."

It said that both its alternative power suppliers unit New Way Motor & Diesel (New Way) and Neptune Plant Hire (Neptune) have thrived under these market condition

"High stock levels during the period have provided Austro with a competitive advantage, as it has been able to supply its customers without having to pay the premium that is currently demanded due to limited availability of generators," the company said.

Looking ahead, the group trading condition remained favourable with demand for alternative and stand-by generators expected to continue to drive the business.

"Scope of supply remains broad based, from up-market residential to some of the largest industrial groups," the group said.

I-Net Bridge