HUDACO Industries saw turnover fall a marginal 1.6% to R2.5bn in the six months to May amid "exceedingly difficult economic circumstances".But operating profit plunged 15.8% to R246m, as headline earnings per share slid 13.9% to 472c a share from the period previously. The interim dividend was down 5.6% to 170c per share. However, Hudaco said on Friday it had delivered a "satisfactory" first half.The group specialises in the importation and distribution of high-quality branded automotive, industrial, and electrical consumable products — mainly in the Southern African region."The group’s deft positioning over the past few years to reduce dependence on the mining and manufacturing sectors has proved successful, with welcome increases in revenues and earnings over time from sectors of the economy that have better prospects," it said on Friday.Its products serve two primary markets: the automotive aftermarket, power tool, security, and communication equipment, with a bias towards consum...
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