Huge Group sees turnaround
Alt-X listed holding company, Huge Group says that due to the successful negotiation of a substantial supplier discount as well as improved operating results, it is set to report a profit for the year ending February 2014.
The group – which holds and draws most of its revenue from telecoms companies, Huge Telecom, Huge Mobile and Huge Cellular, believes that earnings will improve by more than 200%, from reporting a loss for the year ended February 2013.
The company anticipates that earnings per share will improve from a loss of 11 cents per share to earnings per share in excess of 11 cents per share for the year ending 28 February 2014.
Headline earnings per share is expected to reflect an improvement of over 500% from a headline loss per share of 4.1 cents to headline earnings per share in excess of 16 cents per share for the year ending 28 February 2014, Huge said.
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