Muvoni points to turnaround

Listed group Muvoni Technology, advised in a trading statement on Tuesday (27 November), that it expects its headline earnings and diluted headline earnings per share to be approximately 0.18 cents per share for the year ended August 2012.

This compares to a headline loss and diluted headline loss of 0.24 cents per share for the prior comparative period in 2011.

The group also noted that the basic and diluted basic earnings per share will be approximately 2.17cents per share compared to a basic and diluted basic loss of 0.47 cents
per share in 2011.

“The directors believe that a solid foundation has been laid for long-term sustainable growth and remain confident of the company’s growth prospects,” Muvoni said in a statement.

In October, Muvoni, through its subsidiary, Ideco AFISwitch, entered into an agreement with ZNG Technologies to purchase the intellectual property relating to software developed by the latter firm, for R6.5 million.

The group expects to publish its results before 14 December, 2012.

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Muvoni points to turnaround