Shares in Sekunjalo Investments surged 22.45 percent on Thursday after the empowerment investment holding company reported a massive increase in its annual earnings.

Headline earnings per share rose 303 percent from 1.18 cents to 4.76 cents, and group headline earnings rose 563 percent to R12.1-million.

Operating profit jumped 155 percent to R53.3-million.

Sekunjalo has nine holding companies with 45 subsidiaries, in the healthcare and pharmaceutical, aquaculture and biotechnology, IT and communications, financial services, food and fishing industries.

The massive increase in earnings was due to stronger contributions from its financial services and IT businesses, and despite the effect of the stronger rand.

Shares closed 11 cents, or 22.45 percent higher at 60 cents on the JSE on Thursday.

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