Unicorn warns of steeper losses


Unicorn warns of steeper losses

Published Date: 2020-03-19 | Source: Stephen Gunnion | Author: Stephen Gunnion

Unicorn warns of steeper losses

The mining services group is no longer selling its Nkomati Anthracite and Benison Coal operations but has earmarked others for disposal.

Unicorn Capital Partners says it will report a wider loss when it releases its interim results at the end of the month.

In a trading statement, the mining services group said it would report a basic loss per share of between 5.82c and 8.38c for the six months to end-December from earnings of 16.87c per share a year earlier, while its headline loss per share would widen to between 5.12c and 7.37c from a 1.5c loss previously.

The group, previously called Sentula Mining, gave no reason for the decline. It said certain comparative figures had been restated as Nkomati Anthracite and Benison Coal were no longer being classified as held-for-sale and had been reclassified to continuing operations. At the same time, Geosearch and its subsidiaries, as well as Unicorn Mining Services, had been moved to discontinued operations as they were being held for sale.

The group converted from a diversified mining and mining services group to an investment holding company after ring-fencing its investments into operating subsidiaries. Its portfolio includes companies providing drilling and blasting to the mining industry, mobile crane hire and exploration drilling services.

Its results are scheduled for release on 31 March. Its shares fell 29% to 10c yesterday.

Similar Stories