EOH will announce details of a planned capital restructuring soon after it publishes its financial results later this month.
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EOH Holdings should be in a position to announce its capital-raising plans when it publishes it full-year results to 31 July 2022.
EOH Holdings said on Wednesday that it has completed its “targeted” turnaround strategy after reporting a big swing to profit. This as it reported a 20% plunge in revenue.
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.