HDC - Hudaco Industries Limited - Results of annual general meeting
HDC
HDC
HDC - Hudaco Industries Limited - Results of annual general meeting
HUDACO INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
Registration Number 1985/004617/06
Share Code: HDC ISIN: ZAE000003273
("Hudaco" or "the company")
Results of annual general meeting
Shareholders are advised that, at the annual general meeting of Hudaco held
at the corporate office of the company today, all the resolutions were
passed by the requisite majority of shareholders present or represented by
proxy.
During the course of the meeting the CEO, Stephen Connelly was invited to
comment on Hudaco`s 2012 results to date and prospects for the full year. He
commented as follows:
"In Hudaco`s 2011 results presentation we indicated that we expected
earnings to grow in 2012. This prediction was predicated on expectations of
moderate economic growth in South Africa, better economic growth in
neighbouring countries and price increases across our product range on the
back of Rand weakness in the last quarter of 2011.
Thus far in 2012, although price increases have not been achieved to the
extent anticipated due to the Rand strengthening by about 10% since year
end, other expectations are being met. First quarter results are
satisfactory and the board remains confident that the group is on track to
achieve earnings growth in 2012.
The group continues to pursue acquisition opportunities and has a healthy
pipeline."
Johannesburg
22 March 2012
Sponsor
Nedbank Capital
Date: 22/03/2012 15:22:01 Produced by the JSE SENS Department.
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