In its half-year trading review, Capespan has said that its results stood strong through the opening six months, despite 'challenging trading environments in many geographies'.
According to the company, revenue grew 26.2 per cent year-on-year, up to R3.35bn (€246m) from R2.65bn (€195m) in the same period of 2012.
Recurring profit before tax grew 1 per cent to R50m (€3.7m), mainly thanks to a strong recovery in the logistics segment, and headline earnings shot up 32.2 per cent to R30.8m (€2.3m), but operating profit fell 16.7 per cent to R34.7m (€2.6m).
In its outlook report, Capespan said that while the current economic environment remained fragile with subdued growth rates
its management believed that current operational success would continue for the remainder of 2013.
'Group operations are cyclical of nature with the majority of profits being earned in the second half of the year,' the board statement read. 'If the rand remains at the current level, the group should also continue to benefit from the exchange rate. Volumes
in all divisions are expected to improve as a result of good growing conditions in most of the global supply regions.'
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