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Stefanutti Stocks (SSK)

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#1 soutie



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Posted 28 November 2019 - 11:11 AM

I looked into them as they're busy being appointed to contract mine for WSL.....But they don't have enough equipment & what they have isn't reliable...

WSL paid out over R300mil & take back their monies via a reduced fee per mined ton...

These types of arrangements don't usually produce a safe productive environment & neither company mentioned can afford that at the moment.

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#2 soutie



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Posted 28 November 2019 - 11:04 AM

Had a quick look through their SENS today....Whoa...! these guys not gonna make it....On top of that read the other day that they were exposed as paying into a slush fund.



The only construction co, that has weathered this onslaught has been WHBO & it's pretty compelling now that any company accused of underhand activities against the public sector is targeted for a slow death...


While there's debate both sides as to yeah but...? I agree...However I'm not the guy who signs off on the invoices....


Provision for future costs - public sector power project      R462 million
Provision for slow paying trade receivables                       R331 million
Specific project losses                                                        R260 million


& looking at the above they really need to find that person..

Best of luck to all in this one... ;)

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#3 andi222


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Posted 22 November 2019 - 05:32 PM

Yip taking on more debt as they go. I personally think they won't be able to trade them self out of this. They either go bankrupt like group five or big dilution to raise equity. Wouldn't touch it.




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#4 Shi


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Posted 22 November 2019 - 04:47 PM

Another construction stock bites the dust? Stock down from around 50c earlier this week to 13c.


Yesterday's SENS had the following



As a result of the above, earnings and headline earnings per share are expected to be a loss of between
600,00 cents and 640,00 cents per share respectively. The corresponding 2018 reporting period reflected
earnings per share of 61,76 cents and headline earnings per share of 60,30 cents.


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