Despite the negative economic climate GNT for the first time in many years, succeeded in paying dividend to the shareholder. The company’s performance reconfirmed the correctness of the strategic thrust towards continuous improvement in our customer service, good maintenance to our fleet of busses, on-going training of our staff and a determined search for extension of our transport services. We will continue to modernise the company in the next few years and make it more efficient and effective in its area of business.
During the course of the year our Managing Director’s contract expired while the Chief Financial Officer’s was terminated on agreed terms after the end of the financial year. These developments had minimum, if any, impact on our operations as the remaining members of management team stepped in and kept the business operating without disruption. The Board is looking at filling these two positions as a matter of priority.
During the year the Board of Directors continously sought to improve its corporate governance functions through directorship training and the implementation of the King III recommendations. The company maintains a healthy balance of non-executive, independent and executive directorships and the Board plays its oversight role through well-functioning and effective Board Committees including the Audit & Risk, Remuneration, Procurement and Nominations & Governance. We uphold the principles outlined by the King III Code and are committed to embedding sustainability throughout our business.
We are paying special attention towards enhancing our image of being a responsible and exemplary corporate citizens. We do this through working closely with communities we 4 serve and making reasonable corporate social responsibility contributions. The Board is determined to achieve its goal of fair demographic representation at all levels of the company. We are particularly proud of employing more than twenty new female drivers. They are a part of the intake of trainees that benefited from our skills development programme.
We are optimistic of the future and see GNT playing an incremental role in the development of our province and the Southern African region. As part of our strategy we are looking at broadening and deepening our routes and diversifying into other passenger transport activities.
The successes of the past few years would not have been possible; and the exciting prospects for the future have been possible through the mutually beneficial partnership with our shareholder, customers, communities, workers, management and our suppliers. Once again I would like to express my appreciation for my fellow Directors’ immense contributions. I would also like to thank on behalf of the Board our customers, management team and all workers for their continued support and co-operation.