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ARB Holdings Limited - Unaudited Interim Results for the Six Months Ended 31 December 2009The board of ARB is pleased to present the group`s interim results for the six months ended 31 December 2009. Despite the challenging economic climate, the group produced an improved set of results when compared to the immediately preceding six month period ended 30 June 2009.
The recovery in the copper price in US dollars during the period under review was largely offset by the strengthening of the Rand against the US Dollar resulting in the average daily copper price per ton in Rands over the period being 8% lower than during the corresponding prior period. Market pricing remained depressed, with sales price deflation of approximately 20%-25% being experienced by the group.
The price deflation and margin pressure impacted the group`s power cable and conductor products where copper and aluminium content is highest. These products account for over 60% of group revenue.
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The recovery in the copper price in US dollars during the period under review was largely offset by the strengthening of the Rand against the US Dollar resulting in the average daily copper price per ton in Rands over the period being 8% lower than during the corresponding prior period. Market pricing remained depressed, with sales price deflation of approximately 20%-25% being experienced by the group.
The price deflation and margin pressure impacted the group`s power cable and conductor products where copper and aluminium content is highest. These products account for over 60% of group revenue.
Read more on Sharenet by clicking here: