SportBusiness.com

SAIL profits from Rand decline

Sports brand marketer South African Investments Limited (SAIL) has posted a net profit of 12.25million ($1.09m/EUR1.23m) in the company's annual results to December 31, 2001.

The company, which is listed on the Johannesburg Stock Exchange, reported turnover of Rand108.8m ($9.68m/EUR10.9m) up from Rand 72.8m ($6.5m/EUR7.3m) the previous year.

Said SAIL chairperson Barney Esterhuyzen: "The decline of the Rand against major currencies had a positive impact on SAIL's performance, as a large portion of SAIL's revenue is earned in foreign currencies."

SAIL holds equity investments in major provincial rugby club brands in South Africa. The company also runs business units offering sponsorship and event management services; financial, business and media solution to the sports industry; and operates joint ventures in international markets.

For more on how SAIL bucked the downward revenue trends in the sports marketing sector see the features sections of sportbusiness.com