https://www.miningweekly.com
Africa|Financial
Africa|Financial
africa|financial

Chrometco expects to report narrowed losses for the 2020 financial year

14th July 2020

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

AltX-listed Chrometco expects to report a headline loss a share of between 0.97c and 1.27c for the financial year ended February 29.

This represents a 16% to 36% improvement on the restated headline loss a share of 1.52c reported for the year ended February 28, 2019.

The company’s loss a share is likely to be between 0.85c and 1.55c, representing a year-on-year improvement of between 55% and 76% compared with the loss a share of 3.52c reported for the prior financial year.

Chrometco in its annual report for the year ended February 28, 2019 stated that it had been suffering from volatile chrome market factors, with erratic ups and downs, affecting the price received from the sale of its product.

The company has for some time been implementing strict cost control measures and has not declared a dividend in the last four years.

Research agency CRU in May reported that there is concern in the global market that output from chrome mines will be under pressure in the coming months, especially since some output had been lost owing to the lockdown in South Africa.

CRU, at the time, said global chrome supply was likely to decrease by 5% year-on-year this year, but to recover in 2021 as demand growth returns.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.175 0.212s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: