Eqstra tumbles on profit warning

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CorporateBusiness

Johannesburg - Shares of Eqstra Holdings tumble over 13 percent, on track for their biggest one-day drop since November 2008, after the leasing firm of mining equipment says first-half profit likely fell by as much as 29 percent, hit by a strike last year.

Civil engineers at Eqstra's contract mining and plant rental division went on strike for three weeks last year, as part of national wage negotiations.

Shares are down 13.4 percent at 7.06 rand, making the company the biggest percentage decliner on the All-Share index. - Reuters



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