Bell sees trading conditions improving with elections over
Headwinds and the group’s investment programme have resulted in high gearing, increased inventory levels and reduced asset turnover, investors told
Bell Equipment, the family business that has existed for 62 years, expects the trading environment to improve following peaceful national elections. Gary Bell, chair of the company that manufactures heavy equipment for use in construction, mining and agriculture, told shareholders at Wednesday’s annual general meeting he expects the difficult trading conditions in SA to improve after a “very peaceful election”.
Bell told shareholders attending the unusually long and engaged meeting that the group’s performance in recent years has been adversely affected by the difficult trading conditions in SA and its rest-of-Africa subsidiaries. In response to concerns raised by one US-based shareholder, Kerem Aksoy of Glacier Pass Partners, Bell said the difficult trading conditions, combined with the group’s investment programme, have resulted in high gearing, increased inventory levels and reduced asset turnover. Aksoy indicated to the meeting that the deterioration in these key performa...
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