ENX Group, a provider of branded equipment, fleet and petrochemical products and services, has reported its first set of results for the six months to February 2017, saying it now has the foundations of a much larger industrial business. Formerly listed as industrial supplies group Austro, ENX swallowed up the much larger Eqstra group in late 2016 for R7.8bn. This separated out Eqstra’s better fleet management business from its unprofitable mining operations. ENX said its first set of interims showed the effect of converting loans into equity, its recapitalisation plans and the monetising of assets into cash flows. It would now unbundle the contract mining and associated mining vehicle businesses that were once part of Eqstra.
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.