15 November 2007

Edwafin Group announces a R 5 million profit for the year:

Submitted by: nadine
{pp}The Hillcrest KZN based Company - Edwafin Limited - announced that its audited net profit for the 2006/07 financial year, was just over R 5 million. This is despite the tough year that the group faced in relocating its motor assembly plant from Bloemfontein to Pietermaritzburg.

During the past year the group divested a number of its businesses, including the Heritage Supper Theatre, and has focussed on its 3 core businesses. These are Dynamic Motor Company (DMC), Rainbow Paints and Edwabond Capital Options (ECO).

Executive Chairman, Patrick Stapleton, says that going forward the group is in good shape both from a financial and management point of view. The public launch of the new on-road-off-road DMC Damara is due to take place early in 2008, and Edwafin Group is confident that it will have a major impact on a niche market in the South African motoring public. The export possibilities for the Damara are also currently being explored, and some interest has already been shown in a number of African countries, as well as Australia.

Contact Details Michele WhiteGroup Marketing Managermichelew@edwafin.com

http://www.edwafin.com

Total Words: 266

Latest from