'Businesses are not corrupt, people are': EOH's net loss widens, but it says it's more sustainable

Having reduced debt by half during the past year, technology company EOH says it will exceed its targeted asset disposals and further reduce debt to position itself on a solid operating footing during the coming years.

The group reported its loss widened to about R91 million in its six months to end-January from R5 million, under pressure from delays or cancellation of large contracts amid client caution in a tough economy. 

Adding to the strain, EOH has opted to hold on to scarce skills, opting rather to have the staff when trading conditions improve.