Notes to the financial statements l Note 38

38. GOING CONCERN
 

During the fourth quarter of the prior financial year, trading in the Group’s operations ceased for a five-week period as a result of the national lockdown brought about by the Covid-19 pandemic. During this time, the Group incurred losses as it was unable to trade and profits remained suppressed thereafter as activities resumed incrementally with the phased relaxation of regulated restrictions. During the final month of the prior financial year, much improved trading results and profit growth were achieved. The Group has since experienced robust demand for its products and recorded increased turnover and profitability. To date, the pandemic has not had a materially adverse effect on the collection of receivable balances due to the Group. No material impairments directly attributable to the pandemic have been recorded, and the Group remains a going concern.


Notes to the financial statements l Note 38