EnX’s petrochemicals hub was real drag on earnings

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Still, the fleet sale looks a decent enough deal and proceeds will extinguish a pile of enX’s debt

The recent spark in the share price of industrial equipment specialist enX Group was quickly snuffed out on Monday after the release of year to end-August results.

Market watchers might well have expected the enX share price to find traction after the announcement in July of the R1.3bn sale of most of its fleet management business to Bidvest Bank.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

 

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