The Automobile Association of South Africa, whose revenue grew to R174,5-million last year, expects to show a profit for 2002, after reporting losses last year and in 2001.

The Automobile Association of South Africa, whose revenue grew to R174,5-million last year, expects to show a profit for 2002, after reporting losses last year and in 2001.

The 70-year-old national motorists' membership organisation published results at the weekend covering the 12 months to December and showing its revenue grew R1,3 million over the corresponding period in 2001.

The AA said personal membership subscriptions grew five per cent to R110,7 million from R105,5 million but corporate revenues fell 13,5 per cent owing to the nonrenewal of certain motor manufacturer schemes, reported.

The AA's revenue from motor-racing circuit Kyalami dropped to R13,2 million from R15,2 million as there were limited prospects of bringing international events to Kyalami and this, in turn, affected boma tenancies.

In the past year, the AA spent R4,3 million on restructuring and invested R5,1 million in capital projects, including R4 million on computer systems.

A spokesman for the AA said the organisation planned “to launch a number of new products and services this year”.