JSE-listed ConvergeNet expects its earnings to be more than 20% lower for the first six months of the year.
In the first half of the last financial year, the company reported revenue of R496.6 million, and earnings per share of 1.34c. Headline earnings per share were 1.35c.
ConvergeNet's share closed a cent, or 3.57% lower yesterday, to end the day at 27c.
Last week, a consortium, led by Trinity Asset Management, bought a controlling stake in ConvergeNet and now aims to oust several directors, including current CEO Pieter Bouwer, in a bid to trim costs.
Trinity has been unhappy about the way the company has been run, its cost-heavy board and profitability levels at its subsidiaries.
The company says, in a statement to shareholders, that it will issue a further trading update once it has clarified the earnings range.
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