MICROmega lifts HEPS by 74%
IT holding company, MICROmega lifted its headline earnings per share by 74% to 49.29 cents in results for the twelve months ended December 2013.
Revenue however, declined to R731.7 million, from R746 million in 2012, but profit for the period advanced to R54.9 million, from R8.7 million previously.
“The Board is pleased with the growth in headline earnings per share of 74% and basic earnings per share of 354%. We are now well positioned for continued grow in 2014,” the group said.
It noted that in previous years, the group exercised extreme prudence in the valuation of our intangible assets by writing them off on an accelerated basis.
“We are now adopting a more realistic, albeit conservative valuation of our development in new technology, and this has caused the disparity between the growth in headline and basic earnings per share.”
Dave King, Chairman of MICROmega said: “I believe we have never been as well positioned to deliver sustainable growth.”
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