Ellies stock lost 6.09% yesterday despite the company saying its earnings per share and headline earnings per share would improve in the full year.
Ellies' shares closed at 771c, a 50c drop on the day, while, in comparison, the JSE's all share index only lost 0.35%. The group published a trading update, saying earnings and headline earnings per share for the year to end April would be between 30% and 40% higher than the 2012 year.
Last year, the company reported revenue 30% higher to R1.7 billion. Basic earnings per share gained 73.2% to 54.53c, while headline earnings per share leapt 73.3% to 54.45c.
It reported revenue of R1.13 billion in the six months to October, up from R721.2 million a year ago, and net profit of R128.8 million, compared with R62.4 million.
Ellies has been gearing up to benefit from digital migration across Africa while the process has been stalled in SA. It supplies aerials and has inked a set-top box distribution deal with Altech UEC.
Share
