Ellies expects stellar interims
Ellies, a manufacturer and distributor of electronic products related to television reception, has advised that it expects its earnings per share and headline earnings per share for the six months ended October 2012 to be at least 80% higher than 21.01 cents and 20.98 cents recorded in the prior comparative period.
In afternoon trade on the JSE, shares in Ellies jumped 6.46% to R7.25, giving it a market cap of R2.2 billion. Shares in the group have climbed from R2.20 in the year-to-date period.
“There is not a reasonable degree of certainty at this stage as to the range, within 20%, by which the earnings per share and headline earnings per share will be higher than those of the previous corresponding period,” Ellies said in a statement on Tuesday (9 October).
Revenue for the six months ended October 2011 stood at R721 million.
In July, Ellies upped its headline earnings per share by 73.3% to 54.45 cents for the year ended April 2012, from 31.42 cents a year ago.
Revenue grew 30% to R1.711 billion‚ while ebitda rose by 71% to R273.4 million.
Profit before tax rose by 73% to R230 million as a result of improved gross profit margins and capacity utilisation‚ despite a loss from an associate amounting to R4.4 million.
Earlier this month, the Minister of Communications announced the launch window for commercial switch-on for digital TV in South Africa, saying it would hold a commercial launch for digital terrestrial television in December 2012.
Ellies hopes to be a major player in the manufacture and distribution of the set-top boxes required for the migration process.
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