Powertech has experienced very difficult market conditions and hence struggled with its performance during the 2009 / 2010 fiscal year, mainly as a result of significantly lower demand for infrastructure products.

This poor demand continued to impact performance in particular at Aberdare Cables. The Group revenues decreased by 24.6 % from R 9.593 billion to R 7.233 billion. Operating income decreased by 55 % from R 570 million to R 255 million. This translated into headline earnings of R 96.9 million against a prior year’s performance of R 265.9 million reflecting a 63.6 % decrease and well below the budget of R 295.5 million.

A special highlight during the period under review is without a doubt our cash management. Through excellent work regarding working capitcal, expenses and debtors, we managed to generate cash and reduce our borrowings. At the end of the reporting period improved our cash by staggering 119.6% from last year's R102 million to R 224 million.