Commentary
Introduction
The board of directors is pleased to report that the Eqstra group (“the group”) grew earnings in an
environment characterised by continued economic uncertainty and a challenging climate for industrial
relations. Contract Mining and Plant Rental’s Benga project in Mozambique continued to deliver good
results, however, the division was negatively impacted by industrial action in the domestic market
and an underperforming contract. Construction and Mining Equipment Distributorships’ (CMED) performance was below expectations due to lumpy mining sector demand and weak demand from
the construction industry. Passenger and Commercial Vehicles delivered another pleasing operating
performance underpinned by annuity contracts, value-added services and the resumption of leasing
asset growth. Industrial Equipment performed well despite a strong yen. United Kingdom (UK) forklift
operations delivered a good performance with increased market share in a difficult market.
read more |
