HALF-YEAR RESULTS
Accentuate promises to perform better by year’s end
The company received R6.5m in the prior period due to the fraud conviction of a former director
Flooring company Accentuate has rushed to assure shareholders its business is on a firm footing and will grow in the second half of its 2018 financial year. On Friday, results for the six months to December 2017 and first half of the financial year indicated that subdued demand from the government for Accentuate’s products placed the company’s sales under pressure. The group suffered a R1.775m loss. The company received R6.5m in the prior period due to the fraud conviction of a former director. This once-off item could not be repeated and Accentuate’s other income line decreased 95% to R400,000 in the reporting period compared with R8.7m for the 2016 period. CEO Fred Platt said Accentuate had taken steps that should deliver better returns to shareholders at the end of the June 2018 financial year. “Accentuate is a company with underlying investments involved in infrastructure supplies, with a focus on flooring, the water treatment and chemical sectors. “These sectors have over the p...
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