COMPANY COMMENT
Firm struggles to find a new Dawn amid cuts
When a company like Cashbuild posts a 12% drop in operating profit, you know it’s tough out there
When a company like Cashbuild posts a 12% drop in operating profit, you know it’s tough out there. So it’s little surprise to see that Dawn, , which makes and distributes sanitaryware and infrastructure-related products, appears to be in a last throw of the dice to survive SA’s economic downturn. Dawn has been in turnaround mode for what feels like forever, and 2018 was earmarked by new management as the first of a three-year recovery plan. That was delayed when Dawn released results for the year ended March in July and it has now been forced to implement deep cuts to the business as conditions since its year-end have worsened. Its new plan is, as might be expected, bad news for SA’s increasingly fragile jobs market. More than 700 employees are about to get the chop, including those at Dawn’s head office, where both the size of its board and fees paid to directors have been cut. Dawn’s woes are certainly historical and partly of its own making. High fixed lease costs and poor workin...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.