Eqstra tumbles on profit warning

Comment on this story

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

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines