×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Lighting and electrical products company Ellies, which on Monday reported its first annual profit in four years, is nearly ready to look at acquisitions and other growth opportunities again, says financial director and interim joint CEO Adrian Bock. "I’m a big proponent that Ellies has to grow," said Bock. He will step down from his dual role at the end of December after largely fulfilling his mandate to stabilise the group, whose shares plummeted from nearly R10 in 2013 to 34c on Monday. The company would have to be "calculated and risk-averse" as it looked to add new products and businesses, Bock said. While the group now had "lots of headroom" in terms of funding, it would probably not consider hefty deals. "But there will come a time when Ellies will have to make a bolt-on acquisition to look to grow, and I think that time is imminent." The group was not yet looking at any meaningful deals, but would discuss its new strategy at an upcoming board meeting, he said. Ellies’s revenu...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now