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Scandal-plagued IT services group EOH Holdings has turned in a significant improvement in full-year results, with the total headline loss per share in the period ended 31 July 2020 reduced by 72%.
EOH Holdings expects to lose less money in the financial year ended 31 July 2020 compared to a year ago as the IT services group makes headway in cleaning up “legacy” issues.
EOH Holdings said in an investor update on Wednesday that it turned in a “resilient financial performance” in its third fiscal quarter and that it’s returned to a stable and cash-generative position.
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EOH Holdings reported a 21.8% decline in total revenue to R6.4-billion in the six months to 31 January 2020, but losses decreased as it said it was making headway with its turnaround plan.