Drop in Eskom infrastructure spend and Zambia changes hit Reunert
Strong export performance to the US and Australia of its low-voltage products counteracted decline
19 November 2019 - 19:23
Lower electrical infrastructure spend by Eskom and municipalities, with regulatory changes in Zambia resulted in listed technology group Reunert reporting a big drop in headline earnings per share (heps) for the year to September.
The group said operating profit declined 12% to R1.361bn, against the backdrop of a 2% rise in group revenue to R10.7bn, due to one-off items in the prior financial year and the decline in the electrical engineering business...
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