JSE-listed Sephaku Holdings on Friday reported a loss of R2.8-million and headline losses a share of R2.36 for the year ended March 31.
These results compared favourably to the 2013 reporting period, of nine-months up to March 31, when the company incurred a loss of R16.3-million.
Metier, the readymix concrete business acquired during the year, added another 70 m3/h plant to its portfolio and ended the period with an operating profit of R75.5-million, up 18% year-on-year.
Sephaku cement business SepCem incurred a R40.9-million loss for the year ended December 31, owing to the noncapital-related expenditure incurred in preparation for market entry and preparation to become a significant competitor in the wholesale and retail cement trade.
“We are pleased by the market acceptance for our cement brands in both the bag and bulk markets to date. SepCem continues to increase its floor-space presence,” Sephaku CEO Dr Lelau Mohuba said.
By: Leandi Kolver