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FrontRange to report profit

By Iain Scott, ITWeb group consulting editor
Johannesburg, 26 Nov 2004

FrontRange expects to report headline earnings of between 0.25 and 0.3 US cents for the four months to October.

This compares with a headline loss of 1.21 US cents a share for the same period a year ago.

FrontRange, which has changed its year-end from 30 June to 30 April, says the four months to 31 October make up the interim period for the 10 months to 30 April 2005.

"The four months from July to October represent the weakest trading months of the year, yet FrontRange grew its overall revenue by around 12% over the same period in 2003," it says in an update to shareholders.

"This is the first time in three years that FrontRange has reported top-line revenue growth compared with the same period in the prior year.

"Revenue and operating profit for the quarter ended October were in line with budget and exceeded that achieved in the quarter ended June 2004."

Earnings per share are expected to be between 0.19 and 0.22 US cents, compared with a prior-year loss of 2.1 US cents.

The group expects to release the results on 13 December.

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