THE BAD

Finweek English Edition - - In Brief -

While there was a mi­nor im­prove­ment in the South African Post Of­fice’s fi­nan­cials (from a loss of R987m in the pre­vi­ous year to a loss of R908m this year), it was un­likely that the Post Of­fice would turn a profit any time soon, re­ported. “The Post Of­fice Group did not gen­er­ate suf­fi­cient rev­enues to fi­nance its high cost base. These con­di­tions, along with other mat­ters […] in­di­cate that a ma­te­rial un­cer­tainty ex­ists on the Post Of­fice Group and [the] com­pany’s abil­ity to con­tinue as a go­ing con­cern,” the pa­per quoted au­di­tor-gen­eral Kimi Mak­wetu as say­ing in the an­nual re­port tabled in Par­lia­ment.

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