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TNM Chief Executive Officer Mr. Douglas Stevenson

Outlook

We expect the challenging business environment with high levels of inflation, high interest rates and a volatile exchange rate to continue into the second half of 2016. The anticipated impact thereof is a moderation in the levels of growth achievable by the company for the full financial year. The company will continue pursuing the cost management initiatives, expansion of the revenue base and strategies aimed at preservation of its balance sheet and equity.

HY 2016 annual report

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