Auditing firm KPMG has expressed doubt about Bryant Technology`s ability to continue as a going concern.
The matter of emphasis in the auditors` report was included in the group`s annual report, mailed to shareholders last week.
"Without qualifying our opinion, we draw attention to the directors` report which indicates that the company incurred a net loss of R618 945 (2002 - R341 779) for the year ended 30 June 2003," KPMG says.
"The company continues to incur losses. These conditions, along with matters set forth in the directors` report, indicate the existence of material uncertainty which may cast significant doubt about the company`s ability to continue as a going concern."
At the release of the results in October last year, Bryant director Bill Marchant blamed the poor performance on high interest rates and exchange rate volatility.
These, he said, had a negative effect on business confidence, resulting in buying policies geared mainly to maintenance expenditure and purchases of necessity.
The group expected a positive change in buying policies in the second half of the current financial year.
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