Huge Group sees big earnings jump

Huge Group, which is listed on the JSE under the mobile telecommunications sector, says it expects a big rise in earnings for the twelve months ended February 2018.

It said that the company’s results will reflect an increase in earnings per share (EPS) and headline earnings per share (HEPS) of between 65% to 85%, when compared to the EPS and HEPS of 26.30 cents per share for the prior comparative period, resulting in an EPS and HEPS of between 43.40 and 48.66 cents per share.

The group previously reported a 42% jump in headline earnings per share for the year ended February 2017, while revenue increased by 14% to R246 million, and operating profit climbed by 84%.

In April, Huge Group announced that its shares were approved for listing on A2X Markets from 10 April 2018, making it the first telecommunications company to list on the exchange.

Huge said that it will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.

A2X Markets (A2X) is South Africa’s newest stock exchange and began trading on 6 October 2017. It competes directly with the JSE and provides an alternative platform for companies to secondary list and trade their shares.


Read: Huge Group to become first telecoms listing on A2X exchange

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Huge Group sees big earnings jump