Earnings will be more than 100% lower when it reports its results for the year to June later today, says JSE-listed SecureData.
The company said in August that headline earnings per share were expected to drop by about 100%. The company has now given more clarity and says earnings and headline earnings per share are expected to be between 112% and 132% lower.
Adjusted earnings per share are anticipated to decline by between 73% and 93%, from 13.1c a year ago. The company previously said adjusted headline earnings would decline 80%.
SecureData, which distributes security solutions and risk management solutions for the African sub-continent and Indian Ocean islands, has not provided reasons for the decline in its latest trading update.
The company has been without a permanent CEO since Dean Brazier's sudden resignation in the second week of June. FD Johan du Toit has taken over as acting CEO, while the company hunts for a permanent head.
In the first half of the year, the company said slower sales at the local unit due to banks and government holding back on spending resulted in revenue declining from R220 million to R198.96 million.
SecureData's second half usually accounts for between 60% and 65% of its annual revenue.
Related story:
SecureData profit plummets
Share