EOH shares soar on profit news
Market cheers report the company is on track for its first full-year operating profit in more than two years
Shares in EOH soared more than 8% on Tuesday as the company, which has been fighting to mend its reputation after the huge fallout from a governance scandal that saw it lose a major contract with Microsoft, said it was on track for its first full-year operating profit in more than two years.
In a trading update, the firm headed up by Stephen van Coller, said it generated an operating profit of between R125m to R175m from continuing and discontinued operations for the year to end-July, after a R1.3bn loss in the prior year. The market cheered the news, sending the stock up 8.22% to close at R7.90, its highest close since May. ..