EOH slumps 15% after reporting impairments
After impairments, the embattled technology company expects an interim headline loss of R9.73 per share, down 409% year on year
Embattled technology and consulting group EOH’s share price slumped to a more than nine-year low on Friday, after it said expected a drop in headline earnings of 409% for the six months to end-January. The company’s earnings have been hit by a strategic review of its assets, but it said on Friday that revenue remained stable at R8.4bn during the period, while operating costs remain flat. The strategic review necessitated a revision of the carrying value of intangible assets, the identification of business lines no longer core to the adopted strategy as well as a review of minority investments, EOH said in a statement.
PODCAST | Consumers are fed up with Telcos..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.