Ellies eyes two renewable energy firms [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Ellies eyes two renewable energy firmsSouth African Ellies Holdings, which manufactures and distributes electronic products related to television reception and also offers power and telecommunications infrastructure products across Africa, is in talks to acquire two companies operating in the energy efficiency market, BDay Live reported, quoting Ellies CEO Wayne Samson. Ellies, which is one of the biggest distributors of satellite dishes, TV aerials and installation equipment in South Africa, successfully added innovative energy efficiency products to its portfolio last year and is now aiming to strengthen the business. Ellies reported on Tuesday (Jan 22) a profit before interest and tax of ZAR 189.7mn (EUR 16.1mn) for the six months to end-October 2012, up 96% y/y thanks to new product lines in the consumer goods and services division and improved volumes in the infrastructure division. Its revenue grew 56% y/y to ZAR 1.1bn. The group said its infrastructure business Megatron was testing its "diesel generator optimisation" product for the telecommunications sector at several sites across South Africa and the Middle East and has already won several contracts. This is expected to be a substantial growth area within the group. Megatron has also expanded its product offering to include power infrastructure related to the water industry and has won so far three contracts in this field.
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