Highlights

Commentary
The board is satisfied to announce a reasonable performance in most
of its divisions and subsidiaries for the six months ended 31
December 2008.
The Group has managed to increase earnings per share by 12% to
26.3 cents per share despite a dramatic downturn in the world
economy and global new vehicle sales slowing down during the
interim period.
Our South African businesses have performed very well, and
compensates to an extent for the decline in exports. This confirms
the importance of the earlier strategies adopted in geographical,
market and product diversification.
It can be seen from the performance of the United Kingdom and
European subsidiaries that they were more affected by the global
financial crisis than our business in South Africa. We have however
seen an improvement in European sales during the first two months
of 2009.
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