DOMINIC SEWELA, CE OF BARLOWORLD, said:

“The group produced a much improved result for the six months ended 31 March 2018 despite challenging trading conditions in some areas. We continue to drive focus on addressing underperformance across the business and in line with that, on 25 April 2018 we announced the disposal of the Equipment Iberia business which is expected to be concluded by 2 July 2018 with the sale price representing a premium to net asset value.

We continue to evaluate high return opportunities aligned to our capability in emerging markets and steady progress is being made on reviewing potential growth areas for the group with active searches in both the local and targeted international markets.”

21 May 2018

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SALIENT FEATURES

Interim dividend per share of
145 cents
up 16%

(1H’17: 125 cents)

Operating profit (from continuing operations)
up 6%
to R2.0 billion

(1H’17: R1. 8 billion)

Total headline earnings per share
up 32% to
481 cents

(1H’17: 365 cents)


FULL SALIENT FEATURES

ABOUT BARLOWORLD

Barloworld is a distributor of leading international brands providing integrated rental, fleet management, product support and logistics solutions. The core divisions of the group comprise Equipment (earthmoving equipment and power systems), Automotive (car rental, motor retail, fleet services, used vehicles and disposal solutions) and Logistics (logistics management, supply chain optimisation and waste management). We offer flexible, value adding, innovative business solutions to our customers backed by leading global brands.

DETAILED COMMENTARY