| |
 |
|
|
2008 |
2007 |
| Revenue (Rm) |
24 022 |
11 334 |
| Total assets (Rm) |
2 845 |
2 183 |
| Attributable income (Rm) |
129 |
63 |
| Operating margin (%) |
0,9 |
1,0 |
| Number of employees |
|
|
| Subsidiaries |
160 |
58 |
| Joint ventures |
– |
85 |
|
|
|
The Trading division acquired the remaining 50% in both Cockett and
Oreport during the year under review. Management structures have been
reorganised which has brought about an improved focus on the core
strategy of origination.
All trading businesses have been affected by the liquidity issues arising
from the credit crisis. Counterparty risk has been highlighted as a key focus
and is being actively managed. The softer commodity prices have reduced
working capital requirements and the division has an improved cash flow
position.
The viability of some key origination projects are presently being assessed
technically and financially with a view to investment. These are focused in
southern Africa and will reinforce the Trading division’s footprint in Africa. |
| |
|
|
Atlas Trading and Shipping (Atlas) is a focused agricultural commodity
trading business offering an end to end service to customers. Atlas has
offices in South America – Peru and Ecuador, Dubai and South Africa.
Atlas specialises in the buying and selling of agricultural commodities such
as wheat, maize and soya beans and meal, as well as the physical handling
of the commodity from source to destination. Growth will come from
focusing on core strengths within the business such as regional exposure
and expertise, together with investment in assets and people.
Agricultural commodity prices worldwide, reached both close to record
highs and lows in the same year. This volatility is expected to continue
into 2009. |
|
|
|
| |
|
|
Oreport is an international marketing organisation specialising in the
worldwide procurement, movement and distribution of raw materials,
primarily associated with the steel industry.
The company has been able to grow its business through its close
relationships with long-term suppliers and international network of
customers and agents. The strategy of securing strategic alliances and
growth through acquisition, particularly in materials such as chrome,
manganese and carbon steel, remain in the forefront of Oreport’s
development.
Significant changes to market demand and prices were experienced in the
second half of 2008 for nearly all bulk commodities. Production cut-backs
by the mineral and metallurgical industries in order to balance supply and
demand, which started in late 2008, are expected to continue through the
first half of 2009. |
|
|
|
| |
|
|
Cockett supplies marine fuel and lubricants on a worldwide basis through
its international network. In 2008, the business set out to increase the
trading margins and to position the business for growth in 2009 and
beyond, and it is pleased to report that this was achieved.
Market conditions in 2009 are expected to be difficult with an overall
reduction in the worldwide bunker market.
The company is investigating physical supply opportunities in Europe to
improve its presence in those markets. |
|
|
|
