Seven years ago Hudaco faced the harsh reality that its key markets, mining and manufacturing, were in fundamental decline. The value-added distributor’s only hope was diversification, a challenge it has met with remarkable success.
“Our growth over the past seven years has essentially been driven by acquisitions,” says CEO Graham Dunford.
It is growth that has resulted in Hudaco lifting annual revenue from R2.5bn seven years ago to what is set to be more than R6.5bn in its current year to November. Operating profit over the past seven years doubled from R300m to R605m.