News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

My Biz

Submit content

My Account

Advertise with us

Verimark's loss of 1.2c compared with 5.2c loss last year

Verimark Holdings has reported a narrower headline loss per share for the six months to August of 1.2c having lost 5.2c a share a year ago. No interim dividend was declared.
Verimark's loss of 1.2c compared with 5.2c loss last year

Revenue was 0.4% higher at R195.2m‚ as price increases in key products hit sales volumes‚ the company said on Thursday.

The group reported an operating profit of R3.2m compared with a loss of R5.1m a year ago.

The company said the period was characterised by "challenging" trading conditions‚ with sales and product margins adversely affected by the weaker rand.

Despite the selling price increases‚ which were implemented during the second half of the previous year‚ the cost of imports of new products and components rose as a result of the ongoing depreciation of the rand against the US dollar‚ resulting in a fall in product margins.

Nonetheless‚ operating profit improved as the consolidation of the head office and warehousing operations into a single premises began to bear fruit.

Verimark's chief executive Michael van Straaten said in February Verimark would focus on three core areas of growth: improving operating efficiencies‚ product development and marketing capabilities. The company has also been exploring international opportunities and new markets.

"I believe we have made good progress on all of these fronts and will continue to do so‚" he said.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za
Let's do Biz