JSE-listed Jasco Electronics has warned investors that it will not return to profitability by its financial year-end, as it had promised in its interim report. Adverse trading conditions continue to dog the company.
Jasco posted a R2.5 million attributable loss for the six months to August.
The company attributed the poor results to a decline in operating margins in its data distribution business.
Jasco sold Pascom Electronics for R6.75 million to management in an effort to reduce debt after the balance sheet reflected interest-bearing liabilities of over R60 million.
The electronics company says adverse trading conditions in the second half of the year are responsible for a continued loss at the close of the books in February.
The annual report and results are expected to be published in May.
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