JSE-listed Elexir says it expects to be profitable in the coming financial year.
<B>Figures at a glance</B>
Elexir Technology results for the year to 31 August 2001
Previous year`s figures in parentheses:
Revenue: R57.33m (R44.51m)
Gross profit: R8.37m (R12.19m)
Operating profit: -R5.34m (-R12.93m)
Net profit after tax: -R5.58m (-R33.92m)
Headline earnings: -R268.09m (R56.94m)
HEPS: -3c (-5.1c)
Current liabilities: R19.14m (R11.53m)
Current assets: R12.35m (R7.86m)
The company`s results for the year to 31 August 2001 show a slip in gross margins to 14.6% compared with 27.3% in the previous year.
CEO Brett Casey says the drop in margins is as a result of tighter trading conditions.
He says the company expects the trend of increased turnover to continue, and increased sales from services and telecommunication products are expected to improve margins for the coming year.
"The expense reduction programme continues and it is anticipated that profitability will be restored in the coming year," he adds.
Elexir disposed of its interest in Skye Capital after the year-end. Casey says goodwill has been written down in the results to reflect the loss on the disposal.
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