SilverBridge Holdings' earnings and headline earnings for the first half of the year will be lower year-on-year, but an improvement on year-end.
The company yesterday issued a trading statement, which said earnings per share and headline earnings per share are expected to be between 1.1c and 1.3c in the six months to December. In the six months to December 2011, the group reported earnings per share of 5.9c and headline earnings per share of 6.1c.
"Although the results are down from the corresponding interim period, there has been a turnaround from the losses in the second half of the last financial year," it says.
A few years ago, the company went through a trying time and had to retrench some staff. It reported disappointing results in 2010 due to delivery on projects being delayed or misaligned with client expectations.
Since then, it has implemented a turnaround strategy and reported a R6.6 million loss for the 12 months to June 2012, an improvement on the R24.3 million it lost in the prior 16 months. It recorded lower revenue of R82.6 million, a decline from the R121 million in the period to June 2011.
Its basic loss per share for the last full year was 19.04c. However, its figures were not directly comparable, as last year contained an additional four months of trading as it moved its year-end.
SilverBridge's results should be published on 26 February. Its share closed flat yesterday at 35c.
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