Subscribe & Follow
#CannesLions
- The new standardCarl Willoughby
- All the South African winnersDanette Breitenbach
- Final Grande Prix and LionsDanette Breitenbach
Trending
- #Cannes2024: All the South African winnersDanette Breitenbach
- Gauteng government buys newspaper space to praise MECDaniel Steyn, Joseph Bracken and Raymond Joseph
Jobs
- RSA - Repair Shop Assistant George
- Customer Experience Team Leader Johannesburg North
- New Vehicle Sales Executive Paarl
- Vehicle Sales Manager Newcastle
- Senior Fleet Controller Helderberg, Strand, Gordens Bay, Somerset West
- Sales Manager Johannesburg North
- Senior Pre-owned Sales Manager East Rand
- Vehicle Sales Executive - LCV Pinetown
- Pre-owned Vehicle Sales Executive Tshwane (Pretoria)
- Volkswagen Certified Service Advisor Durban
Combined Motor Holdings earnings up to 154.9c a share
![Combined Motor Holdings has seen sales and profits rise for the year ended in February. Image: Fotomek](https://biz-file.com/c/1404/193472.jpg)
The group said revenue increased by 10% to R10.8bn‚ with the retail motor‚ car hire and financial services segments reporting real growth. It reported an operating profit that rose from R289.8m to R320.2m for the year. CMH declared a full-year dividend of 50c per share.
Combined Motor Holdings said it was pleased with the results it had achieved‚ especially in light of the prolonged strike in both the motor manufacturing and the motor component sectors.
"These strike impacted negatively on production for a three-month period. The continual fuel price increases‚ the currency collapse in November and December‚ and the interest rate hike in January have precipitated a fall in consumer confidence to levels last seen in October 2010. The group reported a 10.5% increase in operating profit‚ and a 3% margin on revenue‚" the company said.
The group said it expected negative dealer vehicle sales growth in the year ahead.
"After a number of years of pleasing growth‚ a period of consolidation is expected. Following the devaluation of the rand it is inevitable that price increases will be effected. A number of relatively significant increases have already been announced and these are expected to continue.
"The strategy within the group is to maintain the profit levels of the historically successful operations‚ and to secure growth by elimination of the loss-makers‚" Combined Motor Holdings said.
Source: I-Net Bridge
![](https://biz-file.com/b/1206/36520.gif?3)
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za![](/res/img/s.gif)