Get to know your JSE companies: HUDACO INDUSTRIES LTD (JSE: HDC)

Hudaco released its unaudited interim results for the six months ended 31 May 2021 on 25 June 2021. Despite the challenging economic climate, the company produced a strong performance over the reporting period. The company has indicated that for a more relevant comparison in operational performance, the first six months of 2021 should be compared to the interim results for the six months ended 2019. This is due to the significant impact of the Covid-19 pandemic during the 2020 reporting period.

The outlook for the remainder of 2021 remains positive. Management expects the H1 2021 momentum to continue into H2. The most significant risk to the H2 performance is the third wave of Covid- 19 infections currently looming over South Africa. Hudaco’s management has done well to steer the company forward, considering the challenging economic conditions.

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