Imara Group Chief Executive: Thomas B. GaffneyPositioning Imara for the future
In embarking on a new chapter in Imara’s history, we are mindful of a macro-economic climate that continues to deteriorate in Africa. The disappointment of lower credit ratings for South Africa and major African institutions has knocked the confidence of investors and businesses. We understand that we operate in a global environment, and that international developments will have an effect on the business. Trading in our operating businesses continued to be difficult in the first quarter of the new financial year, but was offset by the exceptional capital gain arising from the disposal of ISPR.
Imara has a wide range of contacts in Africa, built over several decades. Our presence in seven African countries and in the UK is a competitive strength. Equally, the diversity of our businesses provides multiple avenues for growth. Given that Imara’s businesses have high operating leverage, a small improvement in African economies can have a major impact on our profits...
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