AltX-listed Huge Group expects to post a positive set of results for the interim period ended August 2008, signalling significantly increased profits, the company said in a SENS announcement this morning.
It expects a net increase in earnings per share of between 750% and 770%, against the corresponding six-month period to end August 2007.
"The release does point out that this period last year included trading results for only one month as a listed entity, and when these results are extrapolated to a six-month period, the real increase in earnings that can be expected by investors is between 25% and 28.33%. This translates to expected earnings per share for the period of between 26.25c and 26.95c per share," the group states.
"Once again, we are delighted to bring good news to the market, especially in these trying times," says Huge Group CEO Anton Potgieter. "The results are reflective of solid underlying performance in our main subsidiary, Huge Telecom. These results are also testimony to the swift and effective completion of the merger of the two businesses which formed Huge Telecom, being TelePassport and Centracell, and the fact that they already now form a dynamic and unified managed telecoms company."
Potgieter says the group has spent the better part of 2008 structuring and planning for expansion, and it is eminently prepared to exploit any appropriate opportunities.
The Huge Group includes:
* Wholly-owned subsidiary Huge Telecom - a company that delivers fully managed telecommunications services to corporate clients;
* The impending acquisition of 59% of iTalk Cellular - a consumer offering that delivers GSM handsets, broadband and telemetry;
* Associate company TelePassport Communications - a corporate managed telecommunications service provider in Namibia; and
* Associate company Eyeballs Mobile Advertising - a rich media-based mobile advertising company.
The group`s results for the interim period ended August 2008 are expected to be released in early November.
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