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Barloworld’s strong performance in Mongolia offsets challenges in Southern Africa
The Star
|March 26, 2025
BARLOWORLD, whose shareholders recently voted against a takeover by Saudi Arabia's Zahid Group, is trading well as Barloworld Mongolia’s strong performance is counteracting contractions in Equipment in Southern Africa and Vostochnaya Technica (VT) in Russia.
And despite constrained trading conditions in Southern Africa, Ingrain significantly improved its operational results for the five months to September 28 following a turnaround plan that was instituted in the second quarter of the 2024 financial year, according to a trading statement Tuesday.
The group results were nevertheless weighed down by the markedly lower activity levels at VT, as the business trades towards break-even at the profit level.
In the first five months of the 2025 financial year, group revenue fell 4.9% to R14.8 billion.
Group earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 12% to R1.6bn. Operating profit from core trading activities fell 20.5% to R1.1bn.
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