HIGH increases in energy, labour and fuel costs continued to negatively affect manufacturing industries, leading to a decline in their gross margin, Spanjaard said on Friday. The group, which provides lubrication products for industrial, car care, automotive, mining and marine applications, presented its results for the year to February 2014. The group reported a profit after tax of R2.458 billion, significantly less than the R4.035bn it realised in after tax profits in 2013. Headlines earnings per share amounted to 19.1 cents from 50c in 2013. Spanjaard shares closed unchanged on the JSE at R5.25 on Friday. – Siphamandla Goge