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Metair boosts profit on back of strong battery operations

Thu, 03/14/2019 - 12:08 -- John Shepherd
Metair MD Theo Loock

South Africa-based automotive and energy storage group Metair Investments has posted increased operating profit for 2018— boosted by its lead-acid operations in Turkey and Romania.

Metair said group operating profit for the year ended 31 December 2018 increased by 19% to just over ZAR1 billion (US$69 million) compared to the previous year. Revenue for 2018 was ZAR10.28bn, an increase of 8% compared to 2017.

Group earnings before interest, tax, depreciation and amortisation (EBITDA) increased 9.4% to ZAR1.33bn.

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