Sep 07, 2023 Warwick Robinson motus
“We host this event every year to show suppliers how much we value their partnership, investment and brand building initiatives during the financial period” said Naiker.
Popular TV personality Devi Sankaree Govender was the evening MC and introduced MAP CEO Malcolm Perrie, who took the gathering through a brief update on Motus key financial highlights and key strategic thrusts. The business is declaring a 14% gain in operating profit, up to R5723 Million. “As a business we have been working to reduce our dependency on new vehicle says” Perrie explained “with a focus on mobility solutions, car rental and aftermarket parts” Current market conditions, lower new car sales rates and the currency woes actually play into Motus’ favour as they decrease their exposure by building earnings in what he termed “hard currency markets”, underpinning his commitment to more investment in aftermarket parts segments. MAP’s own revenues are up as much as 52% with operating profit at R1043 Million – a 62% gain.
“Acquisitions have made these performance figures possible, but it is encouraging that we can keep building on our successes in the tough trading conditions we all find ourselves in” said Perrie. He elaborated on the stagnant market, demonstrating this by showing how fuel spend figures in SA re sitting at almost the same level that they were at in 2012. Added to this are the buy-down trends, as well as consumers who find themselves under enormous pressure with real inflation biting into discretionary household budgets and the roughly 35% decline in Rand value over the past 2 years.
With Perrie approaching retirement in 2024 he also discussed succession in introducing Niall Lynch as the man to take over the reigns in 204, and applauded his enthusiasm in preparing for the role.
Guest speaker Prof Adrian Saville delivered an engaging presentation to round off the presentations, using Mohammed Ali’s famous Rumble in the Jungle against George Foreman as the metaphor for how business needs to adapt to the current trading conditions. Especially in a zero-growth environment business needs to out think, then outperform the competition. The famous bout is considered one of his crowning achievements against a younger and stronger competitor, and his “rope-a-dope” technique of exhausting his opponent is widely considered the key ingredient that garnered him the victory.
The evening closed out with the awards for the various categories.
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