The results for the financial year to July 2021 released on Thursday may give the optimists something to cling to.
EOH expects its losses to narrow significantly in the six months ended 31 January 2021, but the shares fell sharply in reaction to a trading statement published on Thursday.
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 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.
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.
EOH Holdings has renamed its ICT services business iOCO, the JSE-listed technology group said in an update to shareholders on Thursday.
Zunaid Mayet, Rob Godlonton and Pumeza Bam were not implicated in corruption and were not dismissed, EOH Holdings CEO Stephen van Coller said on Tuesday.
The most troubled year in EOH’s history has ended, with the JSE-listed technology services group reporting a loss of R104-million, down from a profit of R1.2-billion in 2017.
EOH Holdings, the ICT firm that is splitting into two divisions, will consider spinning off one of the units and trading the shares separately. The Johannesburg-based company plans to lump its ICT businesses