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Oakbay Investments earns R233m from government

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Johannesburg - Gupta-owned Oakbay Investments on Thursday said it derived R233m from its total revenue of R2.62bn from government business.

This is according to a statement released by the group detailing its revenue for the financial year ended 29 February 2016. Revenue was up 7% from the previous year. The group derived 8.9% of its revenue from government business, the group said in its maiden results release.

In a statement, Chief Executive Nazeem Howa said: “I hope this will help audiences understand our operations and dispel some of the myths that have been built up about our Group, especially the myth that we are heavily reliant on government business, when nothing could be further from the truth.”

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