South Africa - Neotel FY loss widens to ZAR 1.8 bln.

South Africas fixed operator Neotel reported a loss of ZAR 1.8 billion in the financial year to end March, Techcentral reports citing the latest annual report from parent Tata Communications. In 2010, the company turned in a loss of ZAR 1.15 billion. However, the company's directors have expressed confidence in its ability to continue as a going concern. They are satisfied that the group has access to adequate resources to continue in operational existence for the foreseeable future, thanks to Tata's backing. The company ended the year with cash and cash equivalents of ZAR 74.4 million, up from ZAR 64.7 million at the beginning of the year. Shareholders have pledged support to …