Barloworld ups profits despite delays

Barloworld, the biggest dealer of Caterpillar mining trucks in southern Africa, said headline earnings per share totalled 669 cents in the six months to end-March compared with 613c a year earlier.

Headline EPS, South Africa's main profit measure, strips out certain once-off and non-trading items.

Sales grew 6% to R29.9bn, helped by after-market sales, which include parts and services for equipment previously purchased by customers.

Business has been slow in recent months for Barloworld due to a four-month strike in the domestic platinum mines while in Russia- where Barloworld also supplies mining trucks - the standoff with Ukrainehas slowed economic growth and hit investor confidence.

Shares in Barloworld are up about 12% this year, double the gain in the JSE All-share index.