Group’s vinyl manufacturer, FloorworX, has been operating as an essential service during lockdown
Flooring company Accéntuate is eyeing commercial opportunities in the health and education sector as it battles with a weak economy it describes as the worst in recent memory.
The group’s vinyl flooring manufacturer, FloorworX, has been operating as an essential service during the Covid-19 lockdown, and is looking for new opportunities, the group said.Accéntuate manufactures vinyl flooring and has water treatment and chemicals interests.The group says a slowdown in infrastructure spending and SA’s generally weak economy weighed on it during its six months to end-December, when revenue slumped 21.5% to R94.5m.
The group narrowed its loss for the period by about 29% to R11.4m, saying its cost-reduction measures are bearing fruit, although it did not go into details. Accéntuate had a market capitalisation of R24m as of Monday morning, and its share price is little traded but volatile, having risen 325% so far in 2020.
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