Barloworld’s Russian unit weighs on earnings

Industrial group Barloworld has reported lower earnings at the halfway stage, as its Russian unit Vostochnaya Technica (VT) continued to weigh on the bottom line.

Group revenue declined 5.8% to R18.1bn for the six months ended March, driven by a 36.8% decrease in revenue at VT and a 6% decline in Barloworld Equipment southern Africa. ..

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