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.

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