Having reduced debt by half during the past year, technology company EOH says it will exceed its targeted asset disposals and further reduce debt to position itself on a solid operating footing during the coming years.
The group reported its loss widened to about R91 million in its six months to end-January from R5 million, under pressure from delays or cancellation of large contracts amid client caution in a tough economy.
Adding to the strain, EOH has opted to hold on to scarce skills, opting rather to have the staff when trading conditions improve.