Esor FY headline loss per share narrows to 18.8c v 24.4c loss

By
Font size: Decrease font Enlarge font

Esor says that its headline loss per share has narrowed to 18.8c in the year to February from a loss of 24.4c in the year-earlier period.

Esor (ESR) said on Thursday that its headline loss per share had narrowed to 18.8c in the year to February from a loss of 24.4c in the year-earlier period.

The struggling construction group said the results were affected by legacy loss-making contracts that had now been completed.

Revenue slipped 9.1% to R1.45bn due to consolidation initiatives and loss-making contracts‚ while net loss narrowed to R99.8m from 216.33m.

The small-cap company said it had completed the Bakwena N4 road contract‚ its most challenging loss-making contract‚ which incurred a further R56m loss due to late completion.

Esor‚ whose civils division is involved in a number of power infrastructure projects for Eskom at its new Kusile station‚ said it expected recovery to continue into the new financial year.

The struggling stock is down 13% to 24c so far this year.


NEWSLETTER — GET THE LATEST NEWS IN YOUR INBOX. SIGN UP RIGHT HERE.


Enter your e-mail address below using Lowercase.