Brikor reports earnings loss

2011-02-09 18:11

Johannesburg - Construction group Brikor [JSE:BIK] said on Wednesday that its fully diluted headline loss per share for the six months ended August 2010 was 1.7 cents against the diluted headline earnings per share of 0.1 cents in the corresponding period of 2009.

Revenue declined by 5% to R147.6m from R155.4m due to lower demand. Gross profit decreased by 34% to R24.4m.

Gross margins at 16.5% (2009: 23.9%) remained under pressure due to lower margin products in the sales mix combined with a lower growth in demand, which was exacerbated by continued increased input costs, such as energy, fuel, gas and raw materials.

Total loss attributable to equity holders widened to R10.4m from R4.3m previously.

Brikor is a manufacturer and supplier of building and construction materials.