Novus fighting fires
Printing company Novus is facing a tough year, with retrenchments on the cards, legal action around its BEE accreditation, and a lucrative government contract up in the air
20 February 2020 - 05:00
Print and manufacturing company Novus’s tough five-year run as a listed entity looks set to roll on into 2020. It’s heading back to court at the end of the month to defend upgrades of its broad-based BEE (BBBEE) ranking, and is pushing hard to hold onto a valuable and controversial book-printing contract with the department of basic education (DBE).
In Novus’s five years as a listed entity, after being unbundled from Media24, its share price has dropped sharply, from an initial trading level of R16.80 to its current R2.20 — a fraction of its R8.78 NAV...
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