Ellies has reported disastrous half-year results, with its after-tax loss increasing by a massive 205.2%.
Ellies has posted a R106.5 million after-tax loss for the six months ended 31 October 2023 — 205.2% worse than the R34.9 million half-year loss it reported last year.Ellies reported that revenue decreased by 30.6% from R508,9 million to R353,1 million.
“During the first half of the financial year the trading environment remained constrained, with continued pressure on consumers on multiple fronts,” it said. This was as Eskom’s planned maintenance was postponed, and the use of diesel for Open Cycle Gas Turbines kept load-shedding at manageable levels.
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