Shares in Ellies (ELI), a manufacturer and distributor of electronic products related to television reception including satellite and terrestrial aerial range, skyrocketed 15% by the afternoon session on the JSE on Friday.<\/p>\n
By 13:00 on Friday, shares in Ellies advanced 36 cents or 15.19% to R2.73 on the JSE, before settling back down to R2.51 or a gain of 5.91% shortly before 14:00.<\/p>\n
In November, the group advised that it expects earnings per share and headline earnings per share for the six months ended October 2011 to be at least 30% higher than 15.16 cents and 15.12 cents recorded in 2012 respectively.<\/p>\n
Ellies reported revenue of R652.56 million for the six months ended October 2010, and a pre-tax profit of R78.96 million.<\/p>\n
Dealers were unable to pinpoint the sudden gains, but noted relatively high volumes of trade.<\/p>\n
Ellies moved on to the Main Board of the JSE, from the Alternative Exchange in November 2010.<\/p>\n
BusinessTech was unable to get in touch with the group\u2019s chief financial officer, Michael Levitt.<\/p>\n
The group expects to publish its results in last week of January.<\/p>\n
In audited results for the year ended April 2011, the group said that it looked forward to \u201cthe imminent implementation of the Digital Terrestrial Television (DTT) migration rollout through southern Africa.”<\/p>\n
It added that SkyeVine had started operating, by providing internet satellite connectivity within Sub-Saharan Africa, with the successful launching of Intelsat\u2019s New Dawn Satellite.<\/p>\n
\u201cEllies has a 45% interest in SkyeVine and will continue to invest and co-develop the opportunities. Returns from this investment are expected to be reflected in the coming years, with the growth in the subscriber base,\u201d it said.<\/p>\n","protected":false},"excerpt":{"rendered":"
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