JSE-listed energy investment company Hulisani expects to report a loss a share of between 54c and 64c for the year ended February 29.
This represents an 8% to 28% widening of the 50c a share loss reported for the financial year ended February 28, 2019.
Hulisani decided to write off its investment in Ignite Energy Projects, which contributed to the loss reported for the year. Ignite has not been able to realise its vision of fast implementation of flexible power solutions in remote areas owing to various factors.
The company also advises that its net cash from investing activities amounted to 45-million in the year under review, compared with R14-million of net cash generated in the prior year.
Hulisani will publish its results for the year under review on or about May 29.