Gijima, the troubled JSE-listed ICT company, says it’s expects to increase its losses\u00a0for the year ended June 2013.<\/p>\n
The company lost 10 cents, or 14.29%, to trade at 60 cents on the JSE in the morning session.<\/p>\n
Gijima consolidated its stock in July,\u00a0reducing the number of shares in issue on a one for 20 basis, moving its listing price from 6 cents to 106 cents per share.<\/p>\n
The group advised shareholders on Monday (23 September 2013) its reported loss per share\u00a0(EPS) for the twelve months ended 30 June 2013 is expected to increase to between 20.52 cents and 19.46 cents from the reported EPS loss\u00a0per share of 5.28 cents in 2012.<\/p>\n
Discontinued operations, as a consequence of the once-off impact of the disposal of its mining technology and\u00a0consulting businesses,\u00a0MineRP, contributed a profit of\u00a08.09 cents to the EPS loss, it said.<\/p>\n
Gijima said the headline loss per share (HEPS) for the twelve months\u00a0ended June 2013 are expected to increase to between 26.34 cents and 25.29\u00a0cents from the HEPS loss per share of 5.27 cents before.<\/p>\n
Discontinued operations\u00a0contributed a loss of 0.93 cents to the expected HEPS loss.<\/p>\n
The company disclosed an improved EPS and HEPS from continuing\u00a0operations during the second half of the financial year ended June 2013, excluding once off items.<\/p>\n
Once-off items contributed 15.93 cents and 13.00 cents\u00a0respectively to the EPS and HEPS loss from continuing\u00a0operations.<\/p>\n
Gijima raised R150 million in new equity capital in June\u00a0by way of a renounceable rights offer of 3,000,000,000\u00a0new Gijima ordinary shares.<\/p>\n
In April, Gijima reported a 23% decline in revenue from continuing operations\u00a0for the six months ended December 2012.<\/p>\n
Revenue from continuing operations was R911 million, down from R1.1 billion in 2011, and the operating loss from continuing operations was R123 million, after a R33 million operating profit in 2012.<\/p>\n
In July, the group said\u00a0that its chief financial officer,\u00a0Carlos Ferreira<\/a>\u00a0had stepped down from the\u00a0company,\u00a0already operating under an acting CEO.<\/p>\n Gijima CFO steps down<\/strong><\/a><\/p>\n Gijima steps towards turnaround<\/strong><\/a><\/p>\n Gijima rights offer results<\/strong><\/a><\/p>\n Gijima to cut staff count by 10%<\/strong><\/a><\/p>\n Gijima value obliterated in morning trade<\/a><\/strong><\/p>\nMore news on Gijima<\/h3>\n