Accentuate CEO Fred Platt. Picture: FINANCIAL MAIL
Accentuate CEO Fred Platt. Picture: FINANCIAL MAIL

Flooring company Accéntuate is eyeing commercial opportunities in the health and education sector as it battles with a weak economy it describes as the worst in recent memory.

The group’s vinyl flooring manufacturer, FloorworX, has been operating as an essential service during the Covid-19 lockdown, and is looking for new opportunities, the group said.

As vinyl flooring is nonporous it is considered a hygienic option.

Accéntuate manufactures vinyl flooring and has water treatment and chemicals interests.

It is headed by CEO Fred Platt, who has resigned with effect from end-August.

The group says a slowdown in infrastructure spending and SA’s generally weak economy weighed on it during its six months to end-December, when revenue slumped 21.5% to R94.5m. In February 2019 the group announced the disposal of flooring business Pentafloor for about R13m.

The group narrowed its loss for the period by about 29% to R11.4m, saying its cost-reduction measures are bearing fruit, although it did not go into details.

Accéntuate had a market capitalisation of R24m as of Monday morning, and its share is little traded, but volatile. In morning trade on Monday it was unchanged at 17c.

gernetzkyk@businesslive.co.za