CSG anticipates recovery in 2020 financial year

JSE-listed industrial contract services group CSG Holdings had a “satisfactory” first half, but a “disappointing” second half in the financial year ended March 31, owing to a challenging business environment and trading conditions.

“This was aggravated by a few negative one-off events relating to bad debts, impairments of goodwill, stock devaluation and losses, fraud and malpractices. However, we feel comfortable with our normalised earnings before interest, taxes, depreciation and amortisation of R97-million as a base for the 2020 financial year,” CEO Pieter Dry said on Monday.