S African agency gives Mabati Rolling Mills high rating

Mabati Rolling Mills (MRM) has retained its good rating with South African credit rating agency GCR noting the roofing manufacturer posted better profit last year despite an industry downturn.

“Although the plunge in steel prices had a dampening effect on revenue, MRM was able to maintain margins. The operating margin improved to 11.1 per cent up from 9.9 per cent in 2014. This translated to increased operating profit of Sh1.9 billion from Sh1.6 billion,” reads part of the rating report.