Corporate Internet services company Cyberhost says although it has been in danger of ceasing its operations, the new board has initiated a recovery programme.
<B>Figures at a glance</B>
Cyberhost results for the six months to 30 June 2001
Figures for the six months to 30 June 2000 in parentheses:
Revenue: R171 450 (R1.09m)
Continuing operations: R171 450 (R735 289)
Attributable earnings: -R1.2m (-R2.93m)
HEPS: -1.44c (-3.5c)
Cash flow from operating activities: -R444 262 (-R1.9m)
Cash and equivalents: R5 509 (R911 296)
Commenting on Cyberhost`s results for the six months to 30 June 2001, which show a headline loss of 1.44c per share, chairman David Bird says the company experienced extremely difficult trading conditions, "to the extent that the company has been in danger of ceasing its operation".
The new board, which was appointed in March, plans to put the company into a position in which it can achieve sustainable annual growth and profitability.
"The new board aims to more effectively utilise the existing infrastructure, and newly acquire products and services to create a more competitive suite of products," he says.
"In so doing, Cyberhost has evolved into a company focused on value-added IT services, with specific strengths in the financial services, employee benefits and e-commerce arenas."
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