PBT down 17.15% y/y despite making the exceptional profit from sale of shares in subsidiary (Premier Power Products Limited, India). We it not for that exceptional profit, profit warning would have befallen this counter.

The commentary in the FY report has truly painted a gloomy picture for the year ahead.

The only good thing about this report is that it’s not among the long list of loss makers we have seen this year (Read: Loss-making companies increase to seven at NSE http://www.businessdailyafrica....54/-/yjjqbp/-/index.html . )