Jasco seeks green pastures with energy hub in Dubai
JASCO Electronics is closer to opening a hub in Dubai, where it plans to focus on the renewable energy industry in the United Arab Emirates (UAE). Jasco is diversifying its revenue streams in the hope that it will reduce its reliance on SA. CEO Pete da Silva said the UAE had made a financial commitment to develop renewable energy. "We have registered a company and are also engaging with the relevant authorities," said Da Silva. He said the company would take the same approach as in Kenya, where it established a presence through subsidiary NewTelco to cater for the East African market. The Kenyan business is delivering a strong performance.
"Part of our strategy is to diversify to new territories to mitigate volatile rand exposure and allow for improved growth and profitability," he said. Jasco reported a 4.2% decrease in full-year revenue to R1.1bn on lower volume growth, particularly in the second half. Operating profit was R41.7m compared with an operating loss of R72.5m in ...
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