SPANJAARD, South Africa’s largest manufacturer of specialised lubricants and allied chemical products, which on Wednesday released its interim results for the six months to August, said the relaunch of the well-known Molyslip brand had allowed it to grow market share and turnover.The relaunch of Molyslip "has so far had an enthusiastic reception from the market", Spanjaard MD Elista Nepgen said on Wednesday. "The local industrial and consumer and automotive divisions are showing positive signs of improvement," she said.Its net profit after tax rose 19%, from R1.58m to R1.88m. Spanjaard’s net asset value rose from 493.8c to 523.6c per share. Group turnover was up 8%.The special lubricants and allied chemicals division managed a 15% rise in operating profit compared with the same period last year, mainly due to an improvement in Spanjaard’s international markets.But the metal powders segment showed a decline of 38% in operating profit compared with the same period last year, mainly be...
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