Looking into 2021 and 2022, it’s clear the foundation for Omnia’s recovery has been set
Omnia had a most interesting year. It admitted to a debt problem that at one point peaked at R6.8bn — far exceeding its crumbling market valuation.
It also had to issue a series of updates highlighting its poor performance issues, which were aggravated by a structurally weak domestic economy. The share price plunged from a R50-60 range in 2018 to below R13 in July 2019 after the release of its final results.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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