Metair says it "performed very well in 2017 in a dynamic and challenging environment", at a time vehicle technologies are shifting away from fossil fuels. The battery and automotive components maker is making adjustments and preparations to accommodate these shifts in the industry, including for product marketing. Revenue rose 6.3% to R9.5bn in the year ended December 2017. Earnings before interest, tax, depreciation and amortisation leapt 17.6% to R1.2bn, as headline earnings per share shot up 22.6% to 281c. The batteries businesses in Turkey and Romania grew revenue by 31% in local currencies, but this was reduced to 21.1% in bottom-line rand terms due to a generally stronger South African currency. Operating profit grew 15.9% as the overall margin grew to 8.9% from 8.2% in 2016. "The result was better than we expected," Mpho Mokotso, industrials analyst at Avior Capital Markets, said on Thursday. She said this appeared to be due to the performance of Mutlu Aku, a Turkish lead-aci...
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