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South Africa - ACTowers H1 loss widens, revenues down 31%.
South Africa-based Africa Cellular Towers announced that its interim net loss had widened to ZAR 83.6 million compared with a net loss of ZAR 48.3 million the year before. CEO Jacques de Villiers noted that the six months ended 31 August had again been an "exceptionally difficult" period for the group. The still fragile local and global economy, the strong rand, the lack of volumes through ACTowers' factory, a lack of revenue-generating cellular tower installation projects and the fact that the group had to complete historic loss-making cellular tower and fibre-optic contracts had negatively impacted the results. Revenues dropped by 31.4 percent to ZAR 102.7 million. The group noted …
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