Ayo swings into loss but proceeds with final dividend
Sales dropped 41% after it lost a lucrative contract with top client Sasol
Ayo Technology Solutions dished out more than R300m in annual dividends, much of which flowed to its indirect shareholder Iqbal Survé, even as the IT outfit missed out on the boom stemming from socially distant work, shopping and learning during the pandemic.
The thinly traded R1.4bn company, whose top shareholder is African Equity Empowerment Investments, which is controlled by Survé’s Sekunjalo Group, will pay out 95c in a total dividend in the year to end-August, slightly down from 100c doled out a year earlier. ..