Intervid, a Durban-based digital solutions and managed services provider, says sales for the six months to June will be lower than the level initially targeted for the period and significantly lower than the six months to December last year.
The group had said at the release of its December interim results that its focus for the current six months would be on managed growth by achieving targeted sales and ensuring cost-efficiencies.
The group, which incurred a net loss of R36.29 million for the six months to end-December, says while sales targets are not being met, it is achieving the anticipated cost efficiencies.
Last week the group issued a curt notice to the effect that CEO Rob le Sueur was "no longer a director". It has so far refused to disclose the reasons behind his departure.
The latest notice, issued after the market closed on Friday, says that "with immediate effect from 25 April 2003 Mr Chris le Sueur and Mr Keith Pitout have resigned as directors". Pitout was the company`s chief financial officer.
The earlier notice about Rob le Sueur stated that he was no longer director and did not state that he had resigned.
Chairman Bill Lambert, who declines to comment on the background to the announcements, says only that the company will work in the best interests of all stakeholders.
Non-executive director Mark Taylor is acting as Intervid`s interim caretaker.
The Intervid share was untraded at 145c on the JSE this morning.
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