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.
EOH Holdings shares climbed 9.4% on Thursday after it provided an upbeat assessment of its turnaround plan and pointed to improved financial results.
JSE-listed technology services group EOH Holdings is considering various options to reduce the debt burden on its balance sheet.
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EOH Holdings announced on Tuesday that it has sold subsidiary Sybrin for a cash consideration of R334.4-million. The money will be used mainly to pay down debt.
High-flying IT services company EOH has acquired 100% of financial services software specialist Sybrin, which employs 150 people, for an amount neither party is disclosing. EOH, which is listed on the JSE with a market capitalisation of R8bn