Aug 13, 2012
Bell half-year profits climb, confident of futureBack
Paris|Africa|Bell Equipment|Resources|Africa|Asia|Europe|South Africa|Capital Equipment Manufacturer|Equipment|Gary Bell|Infrastructure|Michael Mun-Gavin|Australasia|Sub-Saharan Africa
© Reuse this
Chairperson Michael Mun-Gavin said that Bell’s basic earnings increased to 143c a share, compared with 109c a share in the first half of 2011, and headline earnings reached 141c, up from 105c in the comparative prior six-month period.
Mun-Gavin, who expected this performance to continue throughout the remainder of the year, added that gearing returned to 20%, which was in line with the JSE-listed group's strategic aims.
Bell maintained its position in the domestic market and reported market share growth in Europe, Australasia and sub-Saharan Africa, despite global economic volatility. Revenue jumped from R2.1-billion in the first half of 2011, to R2.9-million in the first six months of this year.
Bell also introduced a new “state-of-the-art” truck range at the Intermat Exhibition in Paris earlier this year to maintain a technological advantage and offer its clients higher productivity, greater durability and lower lifetime operating costs, said Bell CEO Gary Bell.
Meanwhile, Bell said that the group was gearing up to take advantage of the positive short- to medium-term outlook, which included above average-economic growth and infrastructure development in Africa and Asia, as well as growing demand for many resources.
The group is also upbeat about South Africa’s infrastructure plans.
“We are in discussions with government to see how we can add to our direct and indirect employment in South Africa and stand to benefit from various government initiatives relating to infrastructure, economic development, job creation, local value addition and local procurement,” he added.
Edited by: Mariaan Webb© Reuse this Comment Guidelines (150 word limit)
Recent Research Reports
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
Real Economy Insight: Steel 2014 (PDF Report)
This four-page brief covers key developments in the steel industry over the past 12 months. It provides an overview of the global and South African steel and stainless steel markets, South Africa’s major steel producers and events that have shaped these markets.
This Week's Magazine
Multinational semiconductor chipmaker corporation Intel announced its national campaign to further acquire partners to drive its She Will Connect programme, an initiative that aims to expand digital literacy skills to young women in developing countries, further into...
South Africa's MeerKAT radio telescope array programme should get back on schedule within a few months. This assurance has been given by SKA South Africa (SKA SA) associate director: science and technology Prof Justin Jonas. Early last month, Science and Technology...
The Passenger Rail Agency of South Africa’s (PRASA’s) Metrorail service will remain a subsidised service following its current multibillion-rand rolling stock, station, depot and signalling upgrade programme. PRASA group CEO Lucky Montana has allayed fears that...
The uncertainties around the remediation of affected areas as addressed in the Contaminated Land Provisions in the National Environmental Management: Waste Act No 59 of 2008 will possibly spark litigation and disputes between landowners and businesses, contractors...
South Africa is currently the largest component of the African Development Bank’s (AfDB’s) active portfolio in Southern Africa, comprising 62.5% of the bank’s $7.9-billion exposure to the 12-country region – the second largest beneficiary is Mauritius, which...