Roy Cokayne
Barloworld yesterday reported a 7.5 percent increase to R5.7 billion in its combined firm order book for its southern African equipment business in the three months to December despite “challenges” in the domestic mining sector that had led to some slowdown in its Caterpillar business.
The group said the slowdown in South Africa in its traditional Caterpillar business had particularly affected contract mining, but this was made up with incremental revenues from the recently acquired extended mining product range, its Bucyrus business.
Barloworld said trading outside of South Africa was positive thanks to ongoing mining and infrastructure spending. Trading in the first quarter of its 2013 financial year had “shown solid progress across most business units”.
The acquisition of the Bucyrus Russian business was finalised in December and Barloworld said trading in Russia continued to be positive.
It said the automotive and logistics division was trading ahead of the previous year.
Barloworld said trading in its handling unit was slightly weaker than the previous year.
Barloworld shares rose by 2.35 percent to R89.25 yesterday.