ngineering CRC a% ESITDA Gross Margin vs ROTC ex Sector Revenue %HMCO CAGR 4 YR 5 Tr data ROIL Gooda di Chemicals 8% .3% 14.1% 14.6% Travel & leisure 20% 52% Chemicals 21% 2% 10.4% 14.0% Industrial Engineering 15% .5% 25% 13.3% Feed Producers 11% 11% 9.9% Feed & Drug R01311

next ten years.  Tight monetary policy in the form of high interest rates constrains tourism spending by South African residents. This contains Travel & Tourism personal consumption to less than 1% growth annually, as well as domestic invest- ment. Total capital investment is dampened from 5% growt