SENS AT A GLANCE
Thursday 27 November
* Esor Limited (mkt cap: R87m) interims to end August: Loss after tax +61% to R24m (2013: loss R14.8m) mainly through loss-making N4 contract and reversal of R20m claim paid to Esor Civils on Kusile. Disagreements with Eskom on Kusile now settled and four projects successfully concluded. NAV dropped to 198cps (292c). Net cash generation improved to R38m (consumed R21m); cash reserves rose to R50m (R21m). All legacy loss-making contracts now concluded. Delays and cancellations of projects affected revenues but two year order book solid at R2.4bn. Value of work secured on Western Aqueduct rose in revised tender after initial one in 2011 was disputed in court. Group says with loss-making contracts out the way it is now positioned for growth. Has secured strategic partnership with Calgro M3 for development project at Diepsloot. Founding CEO Bernie Krone became non executive chairman on 1 September with Wessel van Zyl now CEO.
