Profit falls 17.6% as weak economy weighs on security specialist
A Trellidor is seen installed at a house. The group says it will introduce new products in the local and international market in 2020 and early 2021. Picture: SUPPLIED
Fixed-security specialist Trellidor aims to launch new products in its second half to end-June in a bid to shore up revenue, reporting that rising unemployment and house price inflation are weighing on profits at most of its operations. Profit for the period fell 17.5% to R26.83m in the group’s half year to end-December, with the group also proceeding with a strategy of buying out underperforming franchisees.The group says it will introduce new products in the local and international market in 2020 and early 2021 to meet changing customer needs.
Trellidor purchased a franchise in Durbanville in 2019 and plans to consolidate three purchased franchises in the eThekwini metro into one in its second year.It says that its shares are being undervalued by the market, and share buybacks will continue. In morning trade on Monday Trellidor’s share price was at R3.05, having fallen 40.43% over the past two years.
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