Spicer's future remains unclear, although financiers have stepped in to supply partial security for its international debt. Meanwhile, the group today announced a headline loss of 1.2c per share for the interim period to December.
The financial results for the six months to December 2001 represent the activities of Spicer's sole operation, Sweden-based IT Konsult.
Nothing substantial has changed since Spicer suspended its share in December, although its financiers have stepped into the breach, giving the group a boost of R18 million.
However, Spicer has had to use this to form partial security for offshore liability of lb1.8 million.
Revenue for the period came in at R18.2 million with an operating loss of R2.6 million.
Spicer reported a headline loss of R13.4 million for the six months, equating to a headline loss of 1.2c per share.
In November, Spicer informed the market that it was considering what was to be done with its last operating subsidiary in Sweden after what the management described as a serious slowdown in the European IT market. This was further exacerbated by the group's bankers announcing they were unwilling to invest further capital into the flailing company.
A conversion profit of R7.9 million arose in December as a result of the weak rand and the company says this will be credited to non-distributable reserve.
Spicer management says it is still in discussions to see what possibilities remain for the continuation of the company.
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