Technology group Alviva Holdings reported a slump in earnings for the six months ended 31 December 2019 due to woes in its ICT distribution segment, a change in accounting rules and foreign exchange losses.
Author: Duncan McLeod
Duncan McLeod
Duncan McLeod is editor of TechCentral.
MTN Nigeria, MTN Group’s largest operating subsidiary, turned in a robust performance in the 2019 financial year, with mobile subscribers rising by 6.1 million to 64.3 million and profit before tax up by 31.1%.
Though there is “significant doubt” over Cell C’s ability to continue as a going concern, the mobile operator’s biggest shareholder, Blue Label Telecoms, said on Friday that “management believes it is more likely than not” that the company will survive.
While big technology shares in the US have continued to hit new highs in 2020 – among them, Microsoft, Apple, Amazon, Google and Nvidia – JSE-listed IT companies have had a torrid start to the new decade.
MultiChoice has strongly criticised former communications minister Yunus Carrim, who on Tuesday told the Zondo Commission of Inquiry into state capture that a controversial 2013 channel supply agreement between MultiChoice and the SABC amounted to “policy capture”.
Blue Label Telecoms said on Monday it will report a sharp swing back into profit in the six months ended 30 November 2019 after previously writing down the value of its 45% stake in mobile operator Cell C to zero.
Adapt IT, pressured by a collapsing share price and a sub-optimal balance sheet, is reviewing its capital structure with a view to reducing its gearing – or the proportion of its debt to equity.
JSE-listed software services group Adapt IT has reported a 35% decline in headline earnings per share despite a 10% increase in revenue for the six months to 31 December 2019.
One of South Africa’s highest-profile politicians is quitting Twitter, describing the social media site as an “evil platform” that has “degenerated into a platform for irrationality and mob-lynching”.
Shares in software services company Adapt IT plunged 20% on Monday after it warned shareholders after markets closed on Friday that its interim earnings would take a beating.