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/ 25 July 2007

Improved performance from Denel

Defence parastatal Denel reduced its net loss from R1,363-billion to R549,1-million for the year to the end of March — a 60% improvement. This was achieved on the back of a 17,8% growth in revenue from R2,773-billion to R3,268-billion. Gross profit for the 12 months rose to R754-million — a 675% improvement on the previous year’s profit of R131,1-million.