Barloworld revenue falls

INDUSTRIAL group Barloworld posted a 10 percent drop in annual revenue as a result of decreasing demand for earth moving equipment this year.

INDUSTRIAL group Barloworld posted a 10 percent drop in annual revenue as a result of decreasing demand for earth moving equipment this year.

The group's revenue fell to R42,2billion in the year ended September.

Barloworld automotive division, which has 53 franchise dealerships and over 70 pre-owned operations across numerous brands, proved resilient despite the huge declines felt by the rest of the auto industry.

Revenue from Barloworld Automotive remained constant at R17billion.

The group's operating profit of R1,9billion was 25 percent lower than in 2008, largely due to a disappointing performance from the equipment division. - Zweli Mokgata

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