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06 Jul Transport

One of empowerment group HCI’s least sexy investments was last year’s buyout of Cape Town-based Golden Arrow Bus Service (Gabs). In the nine months since the results of Gabs were consolidated with HCI’s the bus company churned out a R52m contribution to group headline earnings. By our reckoning that’s better than Putco – with which HCI had a brief dalliance before it opted for taking the private route.

Source: Finance Week – Marc Hasenfuss