Business-to-business trading drives Argent’s profit growth
The interim profit of the steel products group jumped 25.1% to R129.6m
Steel products group Argent Industrial felt the effects of higher interest rates and elevated inflation on consumers, but still grew as its effect was muted on trading between businesses, which generates most of the small cap’s trading.
“This growth is set to continue for the next six months of the current financial year, given that the current order books of most of the companies will carry them past year-end,” the company, valued at about R830m on the JSE, said on Tuesday in its results for the six months to end-September...
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