Holding company MICROmega's earnings are expected to be substantially lower when it reports its half-year results today.
The listed company, which has interests in several sectors including IT, says headline earnings per share for the six months to June are forecast to be between 50% and 54% lower than last year.
A year ago, the company reported headline earnings of 23.99c.
Earnings per share for the same period are expected to be between 68% and 72% lower than the earnings per share of 37.57c in the same period a year ago.
The company says the drop is due to a failure to sell some assets, held at book value, in a discontinued operation and the subsequent write-down of those assets.
MICROmega's IT division houses entities such as Intermap, an enterprise software development company serving a range of commerce, industry and government clients. Its Revenue Management Solutions is a meter reading company, which provides revenue management solutions to local government and other water and electricity utilities.
MICROmega Technologies is a specialist distributor of business network optimisation solutions, including hardware technologies, software-based analytical and management systems.
The JSE requires that listed companies alert shareholders as soon as they are aware results will differ by 20% from the previous corresponding period.
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