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Hudaco profit flat as load shedding bites, warns AGOA loss will put 180 of its jobs at risk | Business

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Industrial group Hudaco said on Friday while load shedding weighed on its operations in its half-year to end-March, strong demand for items such as alternative energy and gas helped lift profits marginally. | News24_Business

Industrial group Hudaco Industries said on Friday load shedding and a tough consumer environment weighed on its half-year results to end-March.

However, profits only rose marginally, while the group is also concerned about SA losing trade privileges with the US.Industrial group Hudaco said on Friday while load shedding weighed on its operations in its half-year to end-March, strong demand for items such as alternative energy and gas helped lift profits marginally.

It upped its interim dividend by 8% to R3.25 per share - about a R100 million payout - while it also spent R112 million buying back about 2% of its own shares. The group has two segments, consumer-related products such as batteries, after-market vehicle parts and power tools, and engineering consumables, such as diesel engines, specialised steel and hydraulic devices.

 

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