Rolfes’s spread into Africa, Brazil part of diversification plan
The group manufactures and distributes chemical products for the water, food, agriculture and industrial sectors
CHEMICAL group Rolfes is expanding into three countries in Africa and Brazil as it looks to diversify its revenue streams. The group manufactures and distributes chemical products for the water, food, agriculture and industrial sectors. The company will start distributing its products in Egypt, Ethiopia, Tunisia and Brazil during the 2017 financial year. CEO Lizette Lynch said all the countries provided growth opportunities and further geographic diversification.
In Egypt and Tunisia, Rolfes will target the agricultural market while in Brazil and Ethiopia it is aiming at the industrial and water sectors. "We see more growth coming from exports," said Lynch. Group revenue increased by 20% to R1.3bn during the year to June. The group derives 10% of its revenues from outside SA. Operating profit increased to R137m from R80m the previous period. Normalised headline earnings per share increased 46% to 55.9c. The improved performance was attributed to, among other things, the inclus...
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