Full Year 2020 Reunert Ltd Earnings and Live Q&A Call Transcript
Good afternoon, ladies and gentlemen. Thank you for joining us this afternoon for the webcast presentation of Reunert's year-end results for the period ending 30 September, 2020. Nick Thomson is sharing the presentation duties with me today. After the webcast, we will be available for a live Q&A session.
The 2020 financial year has been a challenging one for Reunert, and our results have been negatively impacted by three distinct issues. The first of these is the COVID-19 pandemic, which resulted in a material reduction of our revenue in quarters two and three due to the hard lockdown imposed in South Africa over this period. COVID-19 also had a negative impact on our cash consumption as we supported our employees and businesses during the hard lockdown. In addition to the lost sales and cash consumption, the predicted impact of COVID-19 on our businesses resulted in us raising provisions for impairments in terms of the forward-looking requirements of IFRS.
The second key issue impacting the results was the underperformance of the cable businesses
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