JSE-listed ConvergeNet will report a bigger loss per share in the first half of the year compared with 2012, although its headline loss per share will narrow.
In a statement to shareholders yesterday, the company said the expected increase in the loss per share for the six months to February will be between 190% and 195%. Last year, ConvergeNet said revenue fell from R496.6 million to R416.5 million in the first six months of the year.
The group reported a total loss of R6.3 million, compared with a R17.7 million gain in the first half of 2011. ConvergeNet said at the time that revenue dropped because of delays in awarding and implementation of major contracts.
ConvergeNet says the decline in headline loss per share for the half year will be between 25% and 30%. Analysts view headline earnings per share as a key performance indicator as the figure strips out once-off or unusual items.
Its unaudited financial results for the six months are expected to be published on 26 April. Its share closed unchanged at 20c yesterday.
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