{"id":35129,"date":"2013-04-08T16:45:10","date_gmt":"2013-04-08T14:45:10","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=35129"},"modified":"2013-04-08T16:46:22","modified_gmt":"2013-04-08T14:46:22","slug":"convergenet-sees-extended-loss","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/35129\/convergenet-sees-extended-loss\/","title":{"rendered":"ConvergeNet sees extended loss"},"content":{"rendered":"<p>ICT infrastructure supplier\u00a0<a title=\"ConvergeNet\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/2402-ConvergeNet-Holdings\">ConvergeNet<\/a>\u00a0says it expects an\u00a0increase in a loss per share for the six months ended February 2013 to be between 190% and 195%, from a loss of\u00a00.16 cents in 2012.<\/p>\n<p>The group said it anticipates the decline in headline loss per share for the interim period in 2013 will be between 25% and\u00a030%, compared to a loss of\u00a01.84 cents before.<\/p>\n<p>Revenue for the six months ended February 2012 slipped to R416.52 million, from R496.57 million in 2011; while the group noted an operating loss of R24.702 million.<\/p>\n<p>In November 2012,\u00a0ConvergeNet\u00a0recorded an operating loss of R7.14 million in its financial results for the year ended August 2012, citing an increase in operating expenses.<\/p>\n<p>The group noted that operating expenditure increased by 29.8% to R286.6 million compared to R220.8 million for the corresponding period.<\/p>\n<p>The ICT firm said it would focus on expanding its activities into more than 12 identified African countries and streamlining of its operations.<\/p>\n<p>\u201cWe expect our performance to improve in the next year and beyond and through growing our African footprint, new innovative service offerings, strong sales force and proven technical abilities.<\/p>\n<p>\u201cConvergeNet will also continue to prudently invest in identified strategic growth areas such as a NOC, Cloud Computing, Hosted and ICT Managed Services,\u201d it said.<\/p>\n<h3 class=\"my-4\">More on\u00a0ConvergeNet<\/h3>\n<p><a title=\"ConvergeNet swings to a loss\" href=\"http:\/\/businesstech.co.za\/news\/it-services\/27205\/convergenet-swings-to-a-loss\/\"><strong>ConvergeNet swings to a loss<\/strong><\/a><\/p>\n<p><a title=\"ConvergeNet anticipates big earnings fall\" href=\"http:\/\/businesstech.co.za\/news\/it-services\/26921\/convergenet-anticipates-big-earnings-fall\/\"><strong>ConvergeNet anticipates big earnings fall<\/strong><\/a><\/p>\n<p><a title=\"ConvergeNet anticipates further losses\" href=\"http:\/\/businesstech.co.za\/news\/general\/25714\/convergenet-anticipates-further-lossses\/\"><strong>ConvergeNet anticipates further losses<\/strong><\/a><\/p>\n<p><a title=\"ConvergeNet to offload Future Cell stake\" href=\"http:\/\/businesstech.co.za\/news\/general\/21759\/convergenet-to-offload-future-cell-stake\/\"><strong>ConvergeNet to offload Future Cell stake<\/strong><\/a><\/p>\n<p><strong><a title=\"ConvergeNet suffers H1 operating loss\" href=\"http:\/\/businesstech.co.za\/news\/it-services\/11182\/convergenet-suffers-h1-operating-loss\/\">ConvergeNet suffers H1 operating loss<\/a><\/strong><\/p>\n<p><strong><a title=\"ConvergeNet chair reassures investors\" href=\"http:\/\/businesstech.co.za\/news\/it-services\/6570\/convergenet-chair-reassures-investors\/\">ConvergeNet chair reassures investors<\/a><\/strong><\/p>\n<p><strong><a title=\"ConvergeNet loses another director\" href=\"http:\/\/businesstech.co.za\/news\/it-services\/9392\/convergenet-loses-another-director\/\">ConvergeNet loses another director<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ConvergeNet says it expects an increase in a loss per share for the six months ended February 2013 to be between 190% and 195%, from a loss of 0.16 cents in 2012.<\/p>\n","protected":false},"author":10,"featured_media":27208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[1670,26,767],"class_list":["post-35129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-convergenet","tag-headline","tag-ict"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/35129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=35129"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/35129\/revisions"}],"predecessor-version":[{"id":35134,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/35129\/revisions\/35134"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/27208"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=35129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=35129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=35129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}