JAMIE CARR: Omnia has a good start on turnaround
Credit is due to Omnia for what it has achieved in the past year
16 July 2020 - 05:00
These are clearly not the easiest of times in which to execute the turnaround of a business that had seemed to be floundering, so all the more credit is due to Omnia for what it has achieved in the past year.
Its rights issue of R2bn was oversubscribed, net debt is down to a manageable R1.9bn from R4.4bn, and operating profit ballooned from R24m to R789m, putting the company on track to build a platform for long-term growth and value creation...
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