{"id":36095,"date":"2013-04-18T16:08:28","date_gmt":"2013-04-18T14:08:28","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=36095"},"modified":"2013-04-18T16:09:27","modified_gmt":"2013-04-18T14:09:27","slug":"convergenet-updates-on-expected-earnings","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/36095\/convergenet-updates-on-expected-earnings\/","title":{"rendered":"ConvergeNet updates on expected earnings"},"content":{"rendered":"

ICT infrastructure supplier\u00a0ConvergeNet<\/a>\u00a0has published an updated trading statement in which it says it expects to widen its losses.<\/p>\n

The group says that the\u00a0revised expected increase in the loss per share for the six months ended February 2013 will be approximately between 183% and 188% compared to a\u00a0loss of\u00a00.16 cents in 2012.<\/p>\n

The estimated decline in headline loss per share for February 2013 remains at between 25% and 30% when compared to\u00a0a loss of\u00a01.84 cents before.<\/p>\n

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

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

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

\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

\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

More on\u00a0ConvergeNet<\/h3>\n

ConvergeNet sees extended loss<\/strong><\/a><\/p>\n

ConvergeNet swings to a loss<\/strong><\/a><\/p>\n

ConvergeNet anticipates big earnings fall<\/strong><\/a><\/p>\n

ConvergeNet anticipates further losses<\/strong><\/a><\/p>\n

ConvergeNet to offload Future Cell stake<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

ConvergeNet has revised its trading statement in which it says it expects to widen its losses.<\/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":[25,1670],"class_list":["post-36095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-active","tag-convergenet"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/36095","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=36095"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/36095\/revisions"}],"predecessor-version":[{"id":36102,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/36095\/revisions\/36102"}],"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=36095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=36095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=36095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}