EOH expects big revenue jump
Listed IT service company EOH on Monday advised that revenue for the year ended July 2017 has increased in all areas of the business, resulting in an overall increase of 21% when compared to 2016.
The group, which is under a cloud of corruption, advised that earnings per share is expected to be between 774 cents and 845 cents, reflecting an increase of
between 10% and 20% compared to the earnings per share of 704 cents for the year ended July 2016.
Headline earnings per share meanwhile, is expected to be between 791 cents and 863 cents, reflecting an increase of between 10% and 20% compared to the headline earnings per share of 719 cents for the prior period.
The listed IT service company took a massive knock on the JSE in mid July, after an opinion article accused the company of misconduct in its contracts with South Africa’s welfare agency.
The report suggested that father and son Danny and Jehan Mackay, shareholders of EOH, might ‘dethrone’ the Gupta brothers “as South Africa’s most notorious alleged practitioners of state capture”.
The company has repeatedly refuted the suggestions in this opinion piece.
EOH expects to publish its results on 19 September 2017. Shares in the company traded 2.72% lower on the JSE on Monday, to R107.11.
Read: EOH tries to settle investor nerves after ‘misconduct’ hit-piece
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