ConvergeNet anticipates big earnings fall

Troubled ICT infrastructure supplier ConvergeNet, on Tuesday (20 November), advised that it anticipates a 286% decline in headline earnings per share for the year ended August 2012, from HEPS of 2.70 cents in 2011.

The group said that earnings per share will be approximately 285% worse off than EPS of 2.66 cents before.

ConvergeNet distributes and resells an extensive range of industry products through its subsidiaries including cabling, networking, telecommunication, VoIP, servers and storage, infrastructure management and data centre products.

For the period ended August 2011, ConvergeNet reported revenue of R1.029 billion, with an operating profit of R27.24 million.

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ConvergeNet anticipates big earnings fall