KAP Industrial upbeat about recovery after Covid-19 debt spike
The group lost out on about R2.5bn in revenue in its year to end-June, but is optimistic about its prospects
20 August 2020 - 07:54
UPDATED 20 August 2020 - 15:35
Industrial, chemicals and logistics group KAP Industrial says it is seeing improved demand for its products as Covid-19 restrictions are lifted, and is optimistic its ability to generate cash will help it reduce a debt pile that is above its R6bn market capitalisation
The effect of the pandemic was an estimated R2.5bn in lost revenue and R800m in lost operating profit, said CEO Gary Chaplin, but the group has seen improved demand post-lockdown and expects to remain profitable for the “the foreseeable future”...
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