https://www.engineeringnews.co.za

enX posts losses for FY16

23rd November 2016

By: Creamer Media Reporter

  

Font size: - +

JSE-listed industrial energy group enX on Wednesday posted a decrease in earnings for the year ended August 31.

The company reported a total comprehensive loss for the year of R71.4-million, compared with the profit of R21.8-million posted in the prior year.

Headline earnings plunged by 71% to R9.2-million, translating into headline earnings per share (HEPS) of 1.6c.

Adjusted headline earnings decreased by 41% to R21.1-million, with HEPS at 3.7c apiece.

During the year under review, enX posted a basic loss a share of 12.6c, a 340% contraction on the basic earnings a share achieved in the 2015 financial year.

A loss before interest, taxes, depreciation and amortisation of R39.6-million was reported for 2016, compared with a profit of R49.2-million in 2015.

enX’s gross margins reduced to 23% in 2016, from 29% in 2015, owing to a decline in the power segment and lower margins in the chemicals distribution business.

Overall revenue for the year increased 30% to R1.1-billion, driven by healthy growth from the petrochemicals segment.

“The oil lubricants business delivered strong organic growth in addition to being accounted for for a full 12 months and the inclusion of the revenues generated by [new acquisitions] WAI and AGL for [a two-month period],” the company said in an update to shareholders.

With the cessation of load-shedding in August 2015, the firm’s power segment revenues decreased by 19% to R370-million.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.046 1.173s - 122pq - 2rq
Subscribe Now