Jasco sets deadline for underperforming assets
Company has been exiting or restructuring some of its struggling units to focus on contracts and businesses with high margins.
Jasco Electronics has placed some of its underperfoming businesses under review and given them until June to deliver an improvement in performance.
“All nonperforming areas of the group were placed under restructure notice. This process is currently under way and will be completed in the second half of this financial year,” said CEO Mark van Vuuren, who was appointed in May 2018. The focus on high-margin, quality revenue is demonstrated by the “pleasing improvement in gross margins in the first six months by 2.1% to 30.9%”, he said on Friday. In the past year Jasco has organised its business around four key areas: information and communication technology, which is split into ICT-Carrier and ICT-Enterprise; security and fire; and energy and manufacturing.