No luck for Novus as it looks ripe for takeover
During financial 2019, bank overdrafts and call loans increased almost six-fold to R174.5m
The nightmare continues for printing and manufacturing group Novus, which earlier this week released a trading update warning shareholders that headline earnings per share for the six months to end-September would be down by between 46% and 54%.
The group’s shareholders have had a torrid time since it listed at R17 on the JSE in March 2015. The listing followed the unbundling by Naspers’s wholly-owned subsidiary Media 24 and had been required in terms of a ruling by the competition authorities...