Denel has five-year profitability plan, but still needs cash – statement

South Africa’s state defence firm Denel hopes to return to profitability within the next five years via a restructuring plan, but will still require significant cash injections to make it happen, it said in a statement on Wednesday.

“We have put together a comprehensive five-year plan to revitalise Denel,” said interim Chief Executive William Hlakoane, adding the company was confident discussions with government departments with a stake in Denel’s survival would bear positive results soon.