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Byline: Artwell Dlamini
Strong rand hurts Trencor's earnings ARTWELL DLAMINI TRENCOR, the container shipping group, says the strong rand has depressed its earnings, which has happened to many local companies whose profits have been seriously affected by the local unit. Chairman Neil Jowell told Business Day on Friday the rand's strength had reduced its dollar-denominated earnings, which are reported in local currency. Virtually all Trencor's revenue and assets and much of its expenditure are denominated in dollars.
It converts revenue, assets and expenditure into rands when reporting its financial results. The resilient rand adds to the troubles facing local …