Wow, what a year ! It feels like yesterday when we were discussing the outlook for 2011 and how we were going to have to change the way business is done in South Africa if we are to expand and grow our business during times of economic and political uncertainty post Soccer World Cup investments and developments in our country. I am glad to share with you, that in spite of the meltdown of the Euro centric economies, credit crunch in USA, the prospects for South Africa are positive if we can focus on doing “good” business and making the right business decisions.
There are challenges around increasing costs of operation with electricity and fuel increases, e-Toll implementation in February, Labour cost increases and all the other contributing factors so we need to try and create ways of doing our business more efficiently while not affecting service levels negatively. This is an interesting situation and we think we have managed to achieve enough cost cuttings to keep our support rates static for the third year running and in most cases, our support agreement increases are way below CPI.
I believe in re-investing our profits into our business and when we need to use this to help maintain/reduce operating costs, we have the reserves to do it.
I wish to thank all our partners, customers and suppliers for their continued support and look forward to working together in 2012 to continue providing winning solutions that add value to our businesses.
Thanks to our staff who have worked hard this year to adapt to the changes in technology and work methodology and to grow with us.
I wish you a Merry Christmas and successful 2012.
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