Record results from its motor trading division helped Barloworld grow revenue 6% to R66.5bn and aftertax profit 30% to R2bn in its financial year to-end September. Motor trading, housed within its automotive and logistics division, contributed a third of the group’s total revenue. It grew sales 8.3% to R21.8bn and operating profit 15% to R558m, Barloworld said in its results statement on Monday. "New vehicle sales volumes declined by 6.4% against a total market decline of 9.5% during the financial year under review. The overall result was supported by an improved used vehicle and aftersales performance. The acquisitions of two Mercedes-Benz dealerships and a majority stake in salvage management and disposal contributed to the result." Barloworld splits itself into two main segments: automotive and logistics, which contributed 56% of the group’s revenue, and equipment and handling, which contributed 44%. Its car rental business grew revenue 14.7% to R5.97bn and operating profit 14% t...
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