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Alviva - trading update
Shareholders are advised that the Company is reasonably certain that its results for the six months ended 31 December 2019 will reflect the following:
Six months to 31 December 2018 & Expected change percentage & Six months to 31 December 2019
- Headline earnings : R214 million & -39% to -46% & R115 million to R130 million
- EPS : 146.3 cents & -33% to -41% & 86 cents to 98 cents
- HEPS : 146.2 cents & -33% to -41% & 86 cents to 98 cents
The Company has produced disappointing results for the period, mainly as a result of the performance of the Distribution segment. This segment has been affected by the tough economic environment, operating challenges with its new ERP system, minor losses on forex positions compared to profits in the prior period, and changes in the go to market strategy adopted by a large vendor, all of these in approximately equal measure.
The balance of the decrease in profitability has been brought about through the increase in the amortisation charges on intangible assets, further impairment charges on the loan to an associate, and the introduction of IFRS 16.
The Company's unreviewed interim results for the six months ended 31 December 2019 are expected to be published on SENS on or about 2 March 2020.
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