Alviva warns of lower earnings

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Alviva warns of lower earnings

Published Date: 2020-09-10 | Source: Stephen Gunnion | Author: Stephen Gunnion

Alviva warns of lower earnings

The ICT products and services group says it has focused on maintaining and improving equity to ensure its sustainability.

Alviva Holdings says it will report a big decline in full-year earnings following a disappointing first half and the impact of Covid-19 on its second-half performance. However, it says it is reasonably comfortable with the position it now finds itself in.

In trading statement, the ICT products and services group said headline earnings for the year to end-June were likely to be 52-58% lower than the R426 million it reported last year. Earnings per share (EPS) would be down by between 57% and 64% while headline EPS were likely to be 48-54% lower. Core EPS, which are adjusted for the amortisation charge of intangible assets and acquisitions expenses, would decline by 34-40%.

Its shares closed 3.1% up at R6.06 yesterday.





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