Barloworld results “exceedingly rewarding”, says FD Nopasika Lila

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Barloworld Group FD Nopasika Lila unpacks the company’s recent interim results.

Barloworld Group has reported a 12.9 percent increase in its revenue from continuing operations to R20.8 billion, and an operating profit increase of 16.5 percent to R2.1 billion for the interim period ending 31 March 2023.

“The results announcement season is always an absorbing time, but when we deliver excellent results like these, it is also exceedingly rewarding to take the podium at the results presentation for Barloworld staff and analysts,” FD Nopasika Lila said in a statement.

She explained that the results have demonstrated the remarkable resilience of the business, the power of geographic diversification and the effectiveness of the company’s strategy in action.

“In the words of our inimitable leader, CEO Dominic Sewela: The group’s performance cements the decisions we have made with respect to our strategy and our focus on the core verticals of industrial equipment, services, and consumer industries. It demonstrates operational excellence across our team,” she added.

The company also announced that it has successfully unbundled its car rental and leasing business, Zeda, which was separately listed on the JSE on 13 December 2022. “The unbundling of Zeda has been an outstanding achievement for the group as we defy limits and deliver on our strategy,” Nopasika said.

The logistics business has also been successfully disposed of.

“I am thankful to ONE Barloworld for yet again coming together to achieve a great set of interim results and I eagerly look forward to seeing what we will accomplish in the next six months,” she concluded.

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