{"id":46311,"date":"2023-03-29T12:09:47","date_gmt":"2023-03-29T12:09:47","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump"},"modified":"2023-03-29T12:24:36","modified_gmt":"2023-03-29T12:24:36","slug":"barloworld-posts-strong-growth-despite-russia-sales-slump","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump","title":{"rendered":"Barloworld posts strong growth despite Russia sales slump"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Shares in industrial group Barloworld rose as much as 6% in opening trading on Wednesday, after the group flagged double-digit profit growth<\/p>\n

Revenue rose 15% to R16.5 billion in the five months to end February, the company said in a trading update, with earnings before interest, taxation depreciation and amortisation (ebitda) up 11% to R1.9 billion.<\/p>\n

The group’s Southern African equipment business saw its revenue surge by 42% to R10.2 billion, driven by increased machine and parts sales, with operating profit from core trading activities up more than a third.<\/p>\n

The company said its order book also remained strong at R5.7 billion at the end of February, up 21% from September.<\/p>\n

But its Eurasian equipment business saw revenue fall 39% to $179 million (about R3.3 billion), with revenue in Russia halving as that business battles with product availability following Russia’s invasion of Ukraine.<\/p>\n

Barloworld is the official Caterpillar dealer in parts of Russia, which has been hit by sanctions following the invasion.<\/p>\n

Despite this, the company said the result was better than expected, with strong demand for available products, realising good margins.<\/p>\n

Read | Barloworld to hang on to Russian operations for the time being<\/b><\/p>\n

Ingrain, Tongaat Hulett’s former starch business, grew revenue by 23% to R2.8 billion, the company said, boosted by higher commodity prices and growth in export volumes, which offset the flat domestic sales volumes.<\/p>\n

Despite demand challenges due to economic pressures on South African consumers, overall domestic sales volumes held up, in line with the prior period.<\/p>\n

Volumes in the alcoholic beverages sector were flat year-on-year, whilst the confectionary sector continued to show robust volume growth.<\/p>\n

By early morning, Barloworld’s shares were up almost a percent to R88.28, after reaching R92.79 earlier in the session.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Shares in industrial group Barloworld rose as much as 6% in opening trading on Wednesday, after the group flagged double-digit profit growth Revenue rose 15% to R16.5 billion in the five months to end February, the company said in a trading update, with earnings before interest, taxation depreciation and amortisation (ebitda) up […]<\/p>\n","protected":false},"author":84,"featured_media":46309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[274,315,3472,4878,350,275,4877],"class_list":["post-46311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-south-africa","tag-barloworld","tag-industrials","tag-russia","tag-south-africa-2","tag-urkraine"],"yoast_head":"\nBarloworld posts strong growth despite Russia sales slump - South Africa<\/title>\n<meta name=\"description\" content=\"Shares in industrial group Barloworld rose as much as 6% in opening trading on Wednesday, after the group flagged double ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Barloworld posts strong growth despite Russia sales slump\" \/>\n<meta property=\"og:description\" content=\"Shares in industrial group Barloworld rose as much as 6% in opening trading on Wednesday, after the group flagged double ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-29T12:09:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-29T12:24:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/03\/postQueueImg_1680075604.76.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"819\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Barloworld posts strong growth despite Russia sales slump\",\"datePublished\":\"2023-03-29T12:09:47+00:00\",\"dateModified\":\"2023-03-29T12:24:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump\"},\"wordCount\":304,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/03\/postQueueImg_1680075604.76.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"barloworld\",\"industrials\",\"russia\",\"South-Africa\",\"urkraine\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/barloworld-posts-strong-growth-despite-russia-sales-slump\",\"name\":\"Barloworld posts strong growth despite Russia sales slump - 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