JSE-listed Huge Group expects headline earnings per share, a core measure of performance, to leap by as much as 820% in the first half of the year.
JSE rules require companies to alert shareholders as soon as they are aware that earnings will differ by at least 20% from the previous comparable period.
On Friday, Huge said it reasonably expects that earnings per share will be between 240% and 260% higher than the earnings per share of 2.80c reported in 2011. In addition, it notes that headline earnings per share should jump by between 800% and 820%, compared with 1.09c last year.
In the first six months of the last financial year, Huge's revenue was R212 million and it made a net profit of R2.7 million after reversing its full-year loss. Its earnings and headline earnings per share were affected by non-cash items.
At the end of the full year, the least-cost routing company said revenue for the year was down R134.9 million, or 25.76%, from R523.8 million to R388.9 million, while its gross profit declined R15 million, to R74.7 million.
However, after trimming operating costs, its net loss for the year narrowed to R3.7 million, from R16.9 million. Stock in Huge gained 11.88%, or 12c, to close at 113c on Friday.
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