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The share price of 4Sight shot up in late afternoon trade as the technology group said it expects earnings to double for the half-year to June.
The company said on Thursday that its headline earnings per share (Heps), which strip out the effects of one-off financial events, is expected to be 1.236c to 1.340c for the period. That would amount to an increase in the range of 126.8%-145.9% compared with Heps of 0.545c in the previous matching period.
A little-traded stock, 4Sight rose 8.7% to 25c, and it is up 13.64% so far in 2022.
4Sight, traditionally invested in technology, telecommunication and media sector companies, had a board shake-up in October 2019 with four directors resigning and seven new ones appointed.
The public fight and the JSE suspension of the company for late results led to reputational damage that the new executive team is fighting to repair. The stock fell to a low of 16c per share at the time for the AltX-listed company, but it has since recovered somewhat and has a R165m market capitalisation.
Having turned the corner over the past two years, the company is setting up to grow its international revenue.
In February, 4Sight announced the expansion of its regional office in Windhoek to make its technology offerings range available in the Namibian market. The company plans to make about half of its revenue outside SA.
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.