Capespan UK has bucked a downward trend in the Capespan Group to return to profitability in 2009, following a tough year in 2008. Meanwhile, the group overall has seen profits slashed by almost half year on year in 2009, following record-breaking results in 2008.
Announcing its annual results this week, the South-Africa based multi-national said it “managed to weather a very difficult storm” in 2009 and has termed its financial results for the 12-month period “fair.”
The group recorded pre-tax profits of R113.3 million (£10.14m) - some 45.9 per cent down on record financial results for 2008 of R209.3m.
A statement issued by the company shows major profitability reductions, with the biggest percentage reduction suffered by the fruit division, while the group’s logistics division contributed more than half of the total profit of the group.
