Sameer mulls exiting tyre business again

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Sameer Africa is once again reviewing the viability of its tyre trading business in the wake of supply disruptions and high import costs, pointing to a possible scale-down or total exit.

It says revenue from tyres fell by 11 percent last year and headwinds such as difficulties in getting tyres and the rising cost of imports have sent it back to the drawing board.

Sameer had in April 2020 shut the tyre supply arm to focus on real estate but reversed the decision in February 2021 citing a sustained demand for the Yana brand and the success of the company's turnaround efforts.

Now the firm, in the wake of supply chain disruptions, has opened a review on the tyre business, even as the board says it wants to build resilience in the business by capitalising on the “attractive prospects in the property segment.”

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