“The contribution from Fuchs was substantially reduced due to the late receipt of an export order. The radar division, through its mining surveillance radars, has had a successful year while the other businesses performed as expected,” the company said in a statement.
In May, Reunert said revue for the semester to March 31 was down 20% “due to the failure of an unidentified client to place an expected order.” Revenue was R308 million with operating profit decreasing by 35% to R14 million. “The contribution from Fuchs was significantly down for the period due to the non-receipt of an export order, which is still expected during the year. The remaining businesses in the division performed as expected,” the company said in a trading statement.
Last November Reunert reported Reutech operating profit had fallen 73% year-on-year mainly as a result of a large follow-on order not materialising. Reunert noted an operating profit for Reutech of just R61 million from R223 million the year before. Revenue at the business was also down 13% from R904 million to R791 million. Reunert chief executive Nick Wentzel was, however, upbeat. “The prospects for receiving this order are good and we hope that we will be successful in 2011,” he said.
Top stories this week
- Red Cross helping to secure release of Mechem deminers in Senegal
- Mechem profits up for 2012, confirmed order book down
- Raytheon test-fires Excalibur precision-guided projectiles from G6 howitzer
- Two Denel specialists arrested in disputed Sudan border region
- Mechem dogs a success in Benin
- Denel inks two big deals, detail sketchy
- Mechem assists United Nations in African mineclearing
- India receiving South African designed mine-protected vehicles
- DLS starts Acrobat deliveries
- More inertia on Hoefyster
INTS Systems Management helps prepare defence bids
13 May 2013 - A South African company is exploiting a gap in the market by offering to assist companies prepare bids for Armscor and other defence and government organisations.
Cybicom Atlas Defence, Rhino Marine team up
29 April 2013 - Cybicom Atlas Defence and Rhino Marine have taken another step forward in their joint concept for small boat operations aimed at the South African Navy. The latest 9m HDPE demonstrator ...
defenceWeb launches African Militaries profiles
29 April 2013 - defenceWeb is proud to announce the launch of a new portal providing detailed insight into militaries on the African continent. The site's African Militaries section gives a comprehensive picture of ...