In 2011, SOEW’s new plant at Alrode became operational, increasing capacity and leading to increased supply chain efficiencies. This has propelled our business into new markets and product categories. At Radiant, expansion of our distribution footprint across South Africa and outside our borders into Africa enabled us to service new customers and grow into new markets as well as take advantage of the associated efficiencies in our distribution network.

South Ocean Holdings will continue to harness the talents of its executive teams and employees to ensure our businesses are internationally competitive, add value and are efficient. Our operations have been streamlined, structures and reporting lines simplified and a solid foundation for growth has been created. Undertaking this process following the recession has made us more nimble and puts us in a better position to respond quicker to changes in our operating environment.

Although there are signs of improvement in the economy, trading conditions are expected to remain challenging for some time. Our operating units will focus on extracting value from their operations to ensure the group continues to increase value for shareholders on a sustainable basis.