Barloworld profit rose on joint operations and acquisitions

Barloworld

Barloworld Limited,a major distributor of leading global brands, providing integrated rental, fleet management, product support and logistics solutions has just released financial report of some of its branches.

Equipment South Africa records an increase in operating cost R1.7 billion in first quarter of 2017 compared to R1.3 billion recorded in September 2016, which is a solid start start for the company owing to the increased activity in the their mining and contract mining sectors as commodity prices continue to improve.

Also Equipment Russia also reported increase of USD56 million in first quarter 2017 in contrast to USD21 million recorded in the last quarter of 2016, which is as a result of their just concluded Bystrinsky transaction with Norilsk Nickel for twelve large mining trucks.

Equipment Iberia tho with minute growth also increased it operating performance to EURO36 million in January 2017 compared to EUR26 million recorded in September 2016. The company still shows optimism for the remaining quarter of the year.

Company Profile
Barloworld is a distributor of leading global brands, providing integrated rental, fleet management, product support and logistics solutions. The company was established in 1902 in South Africa, making it one of the country’s oldest companies. Inspiring leadership, a reputation for ethical conduct, innovation and a commitment to giving back has ensured Barloworld’s longevity over the past 114 years.

The core divisions of the group comprise Equipment and Handling (earthmoving, power systems, materials handling and agriculture), Automotive and Logistics (car rental, motor retail, fleet services, used vehicles and disposal solutions, logistics management and supply chain optimisation). We offer flexible, value adding, integrated business solutions to our customers backed by leading global brands.

Barloworld has a proven track record of long-term relationships with global principals and customers. We have an ability to develop and grow businesses in multiple geographies including challenging territories with high growth prospects. The company currently has operations in over 20 countries around the world with approximately 78% of just over 20 000 employees in South Africa.