Global downturn weighs on Bell Equipment interims
Equipment manufacturer holds on to its cash despite pleasing demand from mining in SA and Zambia
Original equipment manufacturer (OEM) Bell Equipment reported declines across its financial metrics in the first half of the year, despite wins in SA and neighbouring countries helping to offset lower demand from abroad.
The group reported a 4% decline in revenue to R6.1bn for the six months ended June. Profit from operating activities plunged 43% to R302.8m, while profit for the period was 30% lower at R227.9m. ..