Business / Companies
Chemco reports dismal performance
04 Feb 2013 at 07:20hrs | Views
Chemco reported a dismal FY2012 performance as overall group revenue from continuing operations fell by 47% from $6.6 million to $3.5 million.
The group recorded a loss after taxation of $1.1 million this included a loss of $285,413 from discontinued operations.
Chemco head office was closed and this resulted in a reduction of the group losses from the prior year. Despite the prevailing economic challenges, the business managed to secure limited supplier credit lines which helped to consolidate market position in the retail distribution sector while making some inroads into the contract input supply schemes.
Agricura is set to benefit from strategic alliances developed in the period under review.
The distribution model is set to take advantage of the repacking facility and improve the range of products offered to the market. The introduction of new products for tobacco, sugarcane and horticulture will present an opportunity for business growth.
The restructuring and staff rationalisation that was completed in 2012 will help the group deliver the new initiatives for business growth in a more efficient way.
The group recorded a loss after taxation of $1.1 million this included a loss of $285,413 from discontinued operations.
Chemco head office was closed and this resulted in a reduction of the group losses from the prior year. Despite the prevailing economic challenges, the business managed to secure limited supplier credit lines which helped to consolidate market position in the retail distribution sector while making some inroads into the contract input supply schemes.
The distribution model is set to take advantage of the repacking facility and improve the range of products offered to the market. The introduction of new products for tobacco, sugarcane and horticulture will present an opportunity for business growth.
The restructuring and staff rationalisation that was completed in 2012 will help the group deliver the new initiatives for business growth in a more efficient way.
Source - Byo24News
