State-owned Alexkor posts profit
Pretoria - State-owned diamond miner Alexkor posted its first gross operating profit in five years, Deputy Public Enterprises Minister Ben Martins said on Monday.
The company made a gross operating profit of R11.3m for the year ended March 31, and posted a net profit of R84.2m. In the same period for the previous year the company had an operational loss of R6m, but a net profit of R36.1m.
The company's results need to be tabled before parliament by September 30, after which the annual financial statements will be made public.
Well, well. Wonder where this comes from!!! Well done to the contractors! And unfortunately, at a price. To get between 30 and 20% nett from the contractors and almost zero costs, its high time that some profit is shown.