The operating profit for the first quarter of this year was R49m‚ compared with a loss of R200m in the same period last year. The improved performance can be attributed to increased sales‚ higher vanadium prices and cost reductions.
The earnings before interest, tax, depreciation and amortisation for the period was a profit of R199m‚ compared with a loss of R170m last year. Revenue from sale of goods increased to R2.864bncompared with R2.563bn.
"The Board believes that the company is a going concern. However‚ there are matters that may cast significant doubt about the ability of the company to continue as a going concern. Labour stability‚ health of the market and production stability continue to pose a threat to the operations as Evraz Highveld Steel continues to use credit lines that are not committed and payable on demand‚" the group said.
But it added: "Management has taken significant steps to address the cost structure of the company and the risks."
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
