CIL interim results February 2019

Revenue for the interim period fell to R1.189 billion (2018: R1.304 billion), gross loss widened to R327.1 million (2018: loss of R196.6 million), operating loss grew to R985.7 million (2018: loss of R830.7 million), total comprehensive loss attributable to equity holders of the company narrowed to R1.195 billion (2018: loss of R1.229 billion), while headline loss per share climbed to 4.17 cents per share (2018: headline loss of 3.42 cents per share).

The group’s policy is for the board of directors to consider a dividend on an annual basis after reviewing the annual results. No dividend is recommended.

Company outlook
Across the continent, the opportunities for CIG’s power businesses continue to be driven by:
– Growth in renewable energy and off-grid industrial-scale opportunities in Africa;
– Leveraging the established regional presence/market experience of group companies to geographically expand other group companies’ products and services;
– Normality returning to the South African market and recovery with award and ability to execute contracts; and
– Financing of grid infrastructure-utilising export credit funding lines.

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