South African concrete and cement company Sephaku Holdings (SepHold) posted a net loss of ZAR 3.74 million (€270,357.83/US$337,771.13) in the six months to September 2014, against the ZAR 6.26 million profit of the year-ago period.
Pre-tax profit dropped 35.6% to ZAR 10.5 million due to a ZAR 22.3 million non-cash one-off contingent consideration loss on its acquisition of Métier.
Further, the group was taxed ZAR 14.3 million. On the flip side, revenue was up 34% to ZAR 404.2 million, while operating profit jumped 57% to ZAR 53.1 million with Métier contributing ZAR 62.6 million (up 43%).
Subsidiary Sephaku Cement (SepCem) lost ZAR 35.9 million due to costs on the newly-commissioned Aganang integrated plant, although revenue doubled from the previous quarter to ZAR 309 million.
