FY16 highlights and challenges
The group spent R176 million (FY15: R288 million) on capital expenditure during the period to maintain, improve and expand production capacity.
- Group total revenue of R5,7 billion for the year is 10% below last year on the back of continued lower demand and depressed margins
- As a consequence, we reported EBITDA loss of R248 million against last year’s loss of R254 million
- Non-operating special expense items totalled R138,7 million against last year of R9 million due to R225 million incurred on retrenchment of about 1 200 employees, goodwill impairment of R12 million and R1,7 million loss on the sale of redundant fixed assets reduced by curtailment gain of R100 million on post-retirement medical aid
- Finance costs increased to R477 million against last year of R466 million
|Key highlights||Key challenges|