Slowdown in activity hits Barloworld
Diversified industrial group says investment in working capital is starting to drop in anticipation of mining slowdown
15 February 2024 - 20:04
A Molotov cocktail of lower sales, volumes, a slowdown in the mining sector and a reduction in consumer demand in the consumer industries vertical resulted in a 5% drop in revenue for the first four months of the 2024 financial year, reports Barloworld.
In a statement on Thursday, the group said its Southern African equipment business was affected by lower machine sales revenue, in line with expected slowdown in mining activity...
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