Secure electronic payments group Prism Holdings says in a notice to shareholders that its headline earnings per share for the year to June will be more than 30% lower than the previous year.
The group blames the decline on the continued appreciation of the rand against the dollar, coupled with the fact that there are now more shares in issue following a rights issue completed in February last year.
On the positive side, the group says that despite the decrease, its operations are profitable and cash generative.
It also says headline earnings per share for the second half of the year are expected to be at least 30% better than those of the first half.
CEO Alvin Els said at the release of the interim results in January that a 23% reduction in revenue was mainly the result of rand strength, with 55% of the group`s revenue for the period denominated in dollars.
Also affecting first-half results was severe global pricing pressure on SIM cards.
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