Bloomberg News

Hudaco Jumps to Highest Since at Least 1990 After Earnings

January 26, 2012

(Updates with closing share price in second paragraph.)

Jan. 26 (Bloomberg) -- Hudaco Industries Ltd. climbed to the highest level in more than 21 years in Johannesburg trading after the company said its annual profit jumped 43 percent.

Shares in the distributor of industrial products group climbed as much as 6.5 percent, and closed 4.3 percent up at 97 rand, the highest since August, 1990, when Bloomberg started compiling data.

--Editors: Peter Branton, Alex Nicholson

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Alastair Reed at areed12@bloomberg.net


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