Accéntuate eyes flooring for education and health sectors as Covid-19 bites
Group’s vinyl manufacturer, FloorworX, has been operating as an essential service during lockdown
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.