ARB CEO bemoans lack of major infrastructure spending
CEO Billy Neasham remains confident that ‘the group is well positioned and has the resources to continue to build customer loyalty’
Electrical wholesaler and lighting distributor ARB Holdings on Friday bemoaned the lack of major infrastructure spend and weak construction sector, which weighed heavily on its financial results. ARB is one of Southern Africa’s largest distributors of electrical products such as power and instrumentation cables and overhead line equipment and conductors. Speaking after the release of the company’s results for the six months to end December, in which the company’s headline earnings per share slumped 38%, CEO Billy Neasham said ARB did not foresee an improvement in its trading environment because of the fragile economy. “We remain confident that the group is well positioned and has the resources to continue to build customer loyalty, to secure a fair share of the limited project opportunities available and remain capable to take advantage of any improvement in trading conditions when the SA economy improves,” Neasham said He described the interim period as incredibly difficult because...
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