Strong showing from businesses in Turkey and Romania helps full-year net profit rise 19%
Metair Investments said net profit in the year ended December 2018 rose 19% to R699m despite the “particularly turbulent, challenging and transformative year” for SA companies in general.
The group said its automotive components business in SA “supported the result with good volume throughput”.Metair said while most SA companies had reported poor performances from their overseas operations, the in-country performance of Mutlu Aku “continued to be resilient”. That business contributed a 27% increase in turnover and 55% increase in profitability.
The group said uncertainty and labour volatility in SA and Turkey would continue in the short term, and the wage-negotiation processes in both countries would be “challenging under these circumstances”.
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