Rare Holdings released their financial results for the 12 months ended 30 June 2007 with excellent maiden results.
Rare Holdings lifted operating profit by 43%, to R26-million and revenue was up by 49% to R321-million. “We have had a very exciting first year as a listed company and we are very bullish about our contracts we have won in Africa and our ability to further penetrate the broader African fluid conveyance market” Rare CEO David Scheepers said in a recent interview.
He said he was particularly impressed with Rare Water and Rare Chemical who showed exceptional turnover growth of 85% and 240% respectively, which he believe bodes well for Rare’s strategy to enter more fluid markets and reduce their dependency on the energy sector. In addition with the roll out of the company’s proprietary developed Xtender concept, which incorporates all of the group’s products and services into a structured programme focused on the Total Cost of Ownership for the client, the emphasis during the current financial year will be to further develop it’s maintenance arm to ensure that the company continues to benefit from the on-going maintenance of facilities beyond the current infrastructure spending boom.
Click here to view the summarised results in English.
Click here to view the summarised results in Afrikaans |
