Combined Motor Holdings (CMH), which operates vehicle dealerships and owns First Car Rental, has more than bounced back from Covid-19 to book its best-ever first-half profit, boosted by global supply-chain issues that have restricted supply of new cars, but also put a shine on margins.

Accelerated efforts to cut costs and dispose of loss-making parts have resulted in a much better balanced business, CEO Jebb McIntosh told Business Day, but a decision not to cut too deep also paid off...

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