Update on SABS’s turnaround strategy implementation
October 2022
News
With the aim of improving its financial sustainability, SABS has outlined the actions it is taking towards building a more competitive business for the future.
The implementation of its turnaround strategy is at an advanced stage and positive results are noticeable. In the 2021/22 financial year, the bureau achieved a 7,8% increase in revenue compared to the previous year, with some areas needing more time to become profitable.
It has been a tough year to navigate load shedding, water restrictions in some areas, and a general downturn in the South African economy. SABS and its clients have also been severely impacted by this economic reality, with some of its clients having had to cease operations or scale down.
As communicated previously, SABS has embarked on a Section 189 process as set out in the Labour Relations Act, Act 66 of 1995 (LRA) and is now pleased to indicate that this process has concluded and yielded savings. The new organisational structure is at the final stages of its implementation and is anticipated to conclude in the very near future. The projected outcome of the process and other initiatives will be a lean and fit-for-purpose organisation.
The bureau issued the following message to its loyal clients and stakeholders: “SABS would like to assure you, our clients, of our continued provision of trusted standardisation and conformity assessment services, while meeting the demand for diverse solutions throughout the full implementation of the turnaround strategy.
“SABS’ top priority is to strengthen our client engagements and communications whilst continuing to deliver value-adding quality assurance services that meet your expectations. Thank you for being part of the journey with us, in particular for your understanding, and please do not hesitate to reach out to us or your regular SABS contact should you have any questions.
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