LISTEN | Adapt IT withholds dividend as it focuses on reducing debt levels
Net gearing rose to 65% at the end of the company’s year to end-June, although new acquisitions boosted revenue
14 October 2019 - 09:32
Listed technology business Adapt IT said on Monday it would focus on bringing down its debt levels in coming months, withholding its dividend for the year to end-June after its net gearing ratio rose to 65%.
The company had breached its debt service cover covenant during the period, although Standard Bank has waived this breach for a period of a year...
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