Brikor final results February 2019

Revenue for the year from continuing operations grew to R284.9 million (R273.1 million) whilst gross profit lowered to R58.0 million (R74.3 million). Operating profit before interest and taxation fell to R12.5 million (R33.5 million). Total comprehensive income for the year attributable to owners rose to R8.3 million (R7.6 million). In addition, headline earning per share from continuing operations was lower at 0.6cps (2.4cps).

No dividend has been declared or paid during the year under review.

Notice of annual general meeting
Notice is hereby given that the annual general meeting of shareholder of Brikor will be held at Brikor, 1 Marievale Road, Vorsterskroon, Nigel at 10:00 on Wednesday, 9 October 2019 to deal with the business as set out in the notice of annual general meeting in the integrated annual report 2019.

Company prospects and opportunities
The Board of Directors remains positive about the potential which can be unlocked from the Group, given the consistent improvement of the statement of financial position, with the last major debts outstanding being those amounts owing to related parties and the South African Revenue Service.

A priority during the year ahead will be the strengthening of Brikor's broad-based black economic empowerment status. The Board will be exploring opportunities to expand its black ownership base.

With a lower risk profile going forward, the Group is well positioned to explore growth opportunities.

2019-06-14 16:12:39