The company this morning issued an announcement indicating it will reverse its net loss from a year ago and, as a result, per-share earnings will leap.
Last year, the company reported a loss of R5.9 million off revenue of R282 million. This loss was the result of lower airtime sales, higher salary expenses, higher bad debts, and an impairment of derivatives contracts.
However, the company expects earnings per share to be between 280% and 300% higher than the 5.43c loss per share it reported last year. In addition, headline earnings per share will be between 280% and 300% better than the 5.46c headline loss per share reported a year ago.
Huge this morning reminded shareholders that it is in talks and share trades should be done with caution. Its results are expected to be released in the next two weeks.
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