Photo by: Duane Daws
Defence manufacturer Denel’s order book is standing at over R33-billion‚ with over 50 percent of its profits being derived from its international business.
This was disclosed by public enterprises minister Lynne Brown during her Budget Vote speech in Parliament on Thursday.
The parastatal’s revenue was expected to exceed R5.5-billion and preliminary numbers suggested more than R200-million in net profit after tax‚ she added.
“The department and I have certain matters clearly in our sights in the next five years for Denel. These include developing more partnerships with other global original-equipment manufacturers‚ like its joint venture with the UAE’s Tawuzan and addressing the linked issues of the aging workforce and the pace of transformation‚” Brown said.