Listed outsourcing company GijimaAst will more than double earnings per share for the six months to December.
Basic earnings per share would increase by more than 100%, to between 8.6c and 9c, from the 4.3c reported for the same period last year.
The company's share price benefited from the news on Friday, and this morning was still trading higher. It closed at 107c on Friday, after reaching its 52-week high of 112c during the day. This morning, it was trading 4.67% higher, at 112c.
GijimaAst says it would double earnings, despite the global recession and difficult trading conditions in the ICT sector. The company's results are due for release on 23 February.
In addition to doubling earnings, profits will no longer be impacted by gains or losses on intergroup loan accounts denominated in foreign currencies. These losses and gains are a non-cash item and do not affect the company's operations.
A year ago, GijimaAst reported revenue up 25%, to R1.5 billion. However, its earnings were impacted by R32 million in foreign exchange translation losses. Stripping out this loss, its earnings for the first half of the year would show an improvement of between 20% and 40%.
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