IDC turns last year’s loss into a R6.3bn profit
The state-owned development finance institution posted an after-tax profit of R6.3bn at the group level in the year to end-March 2022
12 September 2022 - 15:54
UPDATED 12 September 2022 - 23:11
The Industrial Development Corporation (IDC) returned to profit at the group level and substantially grew its asset base during the past financial year.
The state-owned development finance institution posted an after-tax profit of R6.3bn at the group level in the year to end-March 2022, up from a R33m loss the prior year, and saw its asset base grow 21% to R174.1bn. At the IDC company level, after-tax profit fell 18% to R2.7bn...
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