Half Year 2023 Kap Industrial Holdings Ltd Earnings Call Transcript
Good morning, ladies and gentlemen, and welcome to Kap's FY23 Results Webcast. Thank you for joining us today. We certainly live in interesting times, running a diversified business in the current environment in South Africa would certainly poses a challenge to any [renowned] business school.
The challenges in the operating environment, high interest rates, volatility [of our] currencies, floods, the social political environment, infrastructure deterioration and most notably, the impact of high stages of load shedding during the third quarter of this financial year, have certainly tested the agility of the group and its leadership team.
All these factors have contributed to the rather sudden contraction in domestic demand experienced not only in Kap, but in many other businesses, as evidenced in recently published results. I'm pleased to report that the Group has been able to find alternative markets for its products that lend themselves to exports, which have helped to offset the softer domestic demand to keep our plants
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