JSE-listed Huge Group says earnings will be significantly better when it reports its results for the year to February.
The company has published a trading statement in which it says its results will be between 70% and 90% better in the year to February.
In June last year, the company said full year revenue was R523.8 million, a decline on 2010's R573.5 million. It reported a basic loss per share of 15.33c and a headline loss per share of 15.41c.
At the time, the company said major mobile networks had stopped paying connection incentive bonuses, which affected revenue in its Huge Telecom and CentraCell business units.
As a result, Huge Telecom and CentraCell were faced with a further restructuring of their businesses. “A potentially healthy financial performance and position was reversed by the significant, but once-off, impact of the cessation of connection incentive bonuses,” said Huge.
It said costs had been trimmed, which would compensate for the cessation of connection incentive bonuses in the 2011/2012 financial year.
Huge will issue a further statement once it has more clarity on its figures.
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