Losses in the last year narrowed at South African construction firm Esor as it completed a delayed road contract, the company said on Thursday.
Esor said its headline loss per share from continuing operations declined 23% to 18.8 cents in the year to Feb. 28.
Headline earnings or losses per share are the main profit gauge in South Africa, stripping out certain one-off items.
* FY revenue impacted by group consolidation initiatives, last effects of loss-making contracts, and reduced by 9.1% to R1.45 billion.
* FY headline loss per share of 18.8 cents versus headline loss of 11.3 cents, headline loss from continuing operations of 24.4 cents year ago
* Delays in spending allocated budget on Diepsloot project will impact revenue in FY16.
* No dividend has been declared
* Anticipates Esor’s recovery to continue into year ahead