Friday, 12 July 2013

F.E.A.R Group unaudited financial results for half year ended 14 May 2013

President's statement

Overview
Focus was on improving revenue and asset base and exploring possible viable ventures.

Financial results
Group made profit after tax $15 359 due to increased optimization to 31%.
Growth was hampered by cash flow constraints.

Engineering
Consultancy remained major earner contributing 87% of total profit.
Production remained subdued due to low demand.

Future ventures
Simple Minds Publications will operationalise within the 3rd quarter.
Levy Gold Mine and Refineries situated in Kadoma. Negotiations are at an advanced stage to acquire a stake in the concern and improve group's asset base.

Corporate Social Responsibility
Group continues in efforts to bridge the gap between technologists and African community.

Conclusion
I express appreciation and gratitude to the board, management, staff and clients for continued support.

Itai Bryan
Group President
11 July 2013

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