Barloworld profit dips as local mining industry slows

Barloworld’s South African businesses continued to face a myriad of challenging trading conditions, says CEO Dominic Sewela. Announcing the group’s financial results for the six months ended March 31, Sewela said at the end of May that Barloworld’s domestic operations had had to contend with a constrained local macroeconomic environment and inflationary cost pressures, as well as relatively higher borrowing costs affecting both businesses and households.