EOH says it expects solid increase in earnings
Shares in EOH have fallen by almost a third in 2017, partly in reaction to the unexpected departure of CEO and founder Asher Bohbot
Technology services group EOH expects earnings per share (EPS) and headline earnings per share (HEPS) to rise 10%-20% for the year to July 31. EOH said on Monday that revenue was up 21% from a year earlier — and rose across all the group’s businesses. The company provides ICT services to a range of sectors, including financial services, retail, manufacturing, mining, health and the public sector. EOH’s shares edged up 0.32% to R110.45 at 11.29am on Monday. They have fallen 32.5% so far in 2017, in part in reaction to the unexpected departure of CEO and founder Asher Bohbot. Bohbot was replaced by Zunaid Mayet. There were also allegations of impropriety — which Mayet has vehemently denied, saying lawyers brought in to examine the allegations have found nothing wrong — in the company’s contract with the South African Social Security Agency. EOH said it expected to release its results on September 19.
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