Adcorp to slash costs as tough conditions erode jobs market

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Sverige Nyheter Nyheter

The employment services group was hit by a 69% plunge in cash generated by operations in its six months to end-August

Human resources specialist Adcorp, whose share price has lost more than a third of its value so far in October, said on Wednesday that it would seek to slash costs at its operations as SA’s weak economy takes its toll on job numbers.

Cash generated from operations slumped 69% to R110m, with the company impairing its business units by R452m due to lower expectations of future revenue. At 12.15pm, Adcorp’s share price had slipped 7.14% to R13 — a two-year low. The company’s share price has fallen almost 36.74% so far in October. This includes a 22.5% slump on the day it issued a trading update, its worst one-day loss in 25 years.

“In SA, our focus over the short term will be the implementation of tactical interventions to claw back on the losses incurred in the first half of this year,” it said.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Benni expecting tough TKO challenge against in-form Kaizer Chiefs - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Cape Town City will kick off their Telkom Knockout campaign on Saturday afternoon, when they host an in-form Kaizer Chiefs at the Cape Town Stadium. Andazi noba ndifine kuwine bani cz andizifuni zombini ezi Teams lol
Källa: SABC News Online - 🏆 32. / 51 Läs mer »