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Protech back in the black

13th May 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JSE-listed Protech Khuthele on Monday said it returned to profitability during the year ended February 28, after reporting losses the year before.

The group, which embarked on a turnaround at the start of the financial year, would report basic earnings a share of between 3.9c and 4.7c for the year under review, when it releases its results on May 20.

This was up from the loss a share of 3.1c in the 2012 financial year.

Headline earnings for the period were expected to jump to between 3.5c and 4.3c, a turnaround from the headline loss of 1c reported in the prior year.

“With the strategic and operational fundamentals now in place, management expects this trend to gain momentum in the near to medium term,” the company said in a statement.

The company focused its strategy on changing the organisational culture and upgrading or acquiring relevant skills; formulating and executing clear, measurable business aims; implementing robust financial management, systems and controls; renewing operational focus; identifying strategic markets both inside and outside of South Africa and introducing comprehensive information systems.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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