Tag: dominic sewela
Logistics and automotive group Barloworld has reported that it will be retrenching staff due to its cost saving and containment initiatives. Staff will be cut by 20 to 25 per cent as well as salary cuts amid a reduction in demand, volatile commodity prices and a disruption in supply chains. The group reported an interim revenue decrease of 12.2 per cent and operating profit decrease of 28 per cent. Barloworld CEO, Dominic Sewela joins CNBC Africa for more.
In a bid to save costs in a tough economic and trading environment, Barloworld, a logistics and fleet management group has announced that it will merge its automotive and logistics business. The company has witnessed difficult operating conditions with its headline earnings per share falling 7.7 per cent to 1100 cents. Barloworld CEO, Dominic Sewela joins CNBC Africa for more.
Barloworld has delivered a moderate set of interim results. The logistics and automotive company saw growth in their Southern African equipment business with revenue up 15.7 per cent to R10 billion on the prior period, but were weighed down by instability in their Russian operations and a growth in net debt. CEO Dominic Sewela spoke to CNBC Africa’s Kopano Gumbi.