Forza, the listed holding company of a range of car services spanning new and used cars and South African motoring portal forzaweb.com, has released interim financial results which the company says puts it on track to achieve full year forecasts.
Group turnover amounted to R354 million, translating into pre-tax profit of R13.8 million. The company says a significant proportion of earnings were generated from the group`s involvement in related financial services. Earnings per share of 2.0c for the period were reported, which the group says puts it on track to achieve the revised forecast of 4.8c for the full year.
Forza Group controls Investment Cars; Lyndhurst Auto, the BMW franchise dealership; Sportech, the vehicle customisation; and Forzaweb.com, an e-commerce hub providing a business portal for motor and leisure-related transactional traffic.
Commenting on the company`s online future, Peter Acheson, Forza chairman, says: "Consistent with our belief in the future of e-commerce, the group has invested significantly in its e-commerce initiative. Forzaweb.com, which went live in October 1999, currently has 3 800 registered users and receives in excess of 150 000 page impressions per month."
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