Shaft Sinkers posts 75 per cent plunge in profits

Shares in Shaft Sinkers sank on Monday morning after it said 2012 revenue declined 15 per cent and pre-tax profit plunged 75 per cent on the back of operational difficulties and the depreciation of the Rand.

Shares in Shaft Sinkers sank on Monday morning after it said 2012 revenue declined 15 per cent and pre-tax profit plunged 75 per cent on the back of operational difficulties and the depreciation of the Rand.

The majority of Shaft's South African clients were serverly affected by labour disputes throughout 2012 and it was unable to escape the effects of these, the firm said.

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