Huge Group’s share price falls despite upbeat earnings news
The ICT group announced that interim headline earnings per share would rise between 40% and 55%
Huge Group’s shares were trading 6.4% lower at R8 on Tuesday afternoon despite the company’s guidance that interim earnings could increase by more than half. The JSE-listed information and communications technology (ICT) group said in a trading statement its headline earnings per share (heps) would be between 40% and 55% higher in the six months to end-August. Heps would be between 26.74c and 29.60c. Huge Group, which has a market capitalisation of R1.4bn, is a provider of connectivity, software and mobile advertising. The company is trading under a cautionary announcement relating to potential acquisitions. In the year ended February, Huge Group’s net profit after tax rose 188%.
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