Adcorp share price jumps the most in seven months as profit rises
The share price surges 133% on the company's cost containment plan to ease the effects of Covid-19
15 October 2020 - 18:19
The share price of Adcorp had its biggest one-day gain since March on Thursday after the employment services group said it expects a sharp rise in profits due to cost containment efforts to ease the effects of Covid-19.
Adcorp, which operates in SA and Australia, said in a trading update on Thursday that operating profit is expected to increase to as much as R112m in the six months to end-August, an increase of up to 31%.
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