Barloworld flags profit growth amid car rental recovery but Russia casts a shadow
29 March 2022 - 08:39
Diversified industrial multinational Barloworld says it has booked double-digit operating profit growth in the first five months of its 2022 year, amid a bounce-back for car rental services in SA and strong demand for equipment from Russia, a country now hit with severe sanctions.
Revenue from continuing operations and operating profit increased more than 10% in the five months to end-February, the group said in a trading update, with car rental operating profits more than tripling, and rising to 17% above pre-pandemic levels...
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