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Denel’s fragile recovery under scrutiny as company posts first profit in nearly a decade – defenceWeb | SA News

Denel missiles on display at AAD 2022.

State-owned defence manufacturer Denel has reported an unaudited profit of R223 million for the 2024/25 financial year, its first since 2016, as it outlines a cautious recovery strategy.

The company’s Group CEO, Tshepo Monaheng, presented Denel’s turnaround plan to Parliament’s Joint Standing Committee on Defence (JSCD) on 20 June, amid sharp scrutiny over years of financial mismanagement and strategic decline.

According to Denel, for the 2024/25 financial year, revenue stood at R1.3 billion, well below the R8.4 billion high it achieved in 2015/16. He confirmed the company is still managing over R700…

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