JOHANNESBURG – JSE-listed manufacturer Bell Equipment reported an 8 percent revenue increase to R4.04 billion in the year to June, thanks to its diversified geographical footprint and despite a sluggish South African economy.
Bell, which declared a 20 cents a share interim dividend, similar to that of the last financial year, said profit rose 14 percent to R152.3 million.
Leon Goosen, chief executive of Bell, said South Africa remained a primary market for the group, where the full product and service line was positioned for eventual market recovery.
The group attributed the growth to its occupying a strong and diversified position globally, which helped in countering the more difficult operating geographies. “During the period under review the South African economy remained weak and we saw trading conditions deteriorate further on the back of prolonged economic uncertainty and a lack of much anticipated economic stimulus.
“We acknowledge the current volatility around the global and local economy and the impact this can have on commodities and understand the knock-on effect on our business,” Goosen said.