Stefanutti swings into R1bn loss amid Eskom woes
The group has suffered a loss of about 20 times its R55m market capitalisation amid issues at the Kusile power project
30 July 2020 - 07:36
Construction and engineering firm Stefanutti Stocks swung into a R1bn loss amid claims from Eskom it was overpaid for its work at the Kusile power station project, which required it to make provision for unrecoverable costs at the project.
The group reported a loss of R1.07bn in its year to end-February, from a loss of R111.3m previously, with the group making a provision of R461m for Kusile..
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