Combined Motor profit drops 75% as Covid-19 hits retail motor industry
But company resumes dividend payments on optimism activity will pick up in second half
Combined Motor Holdings, which operates car dealerships across SA, has resumed dividend payments on optimism that activity will pick up for the motor retail industry as lockdown measures ease.
The company, which reported a 75% drop in operating profit in the six months to end-August, earlier this year decided against paying dividends for the year ended February 2020 due to uncertainty about the length and severity of Covid-19. ..