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EOH financial director steps down

By Staff Reporter, ITWeb
Johannesburg, 03 Oct 2018
EOH financial director John King has resigned.
EOH financial director John King has resigned.

EOH Holdings financial director of over ten years, John King, has resigned from the company's board of directors.

He will be leaving EOH at the end of November to pursue his own interests.

In a notice to shareholders, EOH said: "John has played a significant role in the Group over the last 12 years and the Board thanks him for his invaluable contribution to the growth and development of EOH during his tenure and wishes him well in all future endeavours."

The board is in the process of appointing a new financial director.

This announcement was made after the group gave its dissapointing earnings for the year, resulting in an overall loss of R104 million compared to a profit of R1.17 billion a year ago.

Earnings for the year ended 31 July 2018 were impacted by once-off impairment of assets, unwinding of non-core businesses and discontinuing of selected activities in the public sector. This saw headline earnings plunge 65% from R1.17 billion last year to just R409 million this year.

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