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.
EOH Holdings expects to reduce its headline loss per share by at least 47% in its latest reporting period, the JSE-listed IT services group said on Thursday.
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Since their peak in 2016, shares in EOH – which describes itself as Africa’s largest technology service provider – have plunged by an eye-watering 97%. They have lost more than 50% in the value since 1 January alone.