On the Cover
Huge sees earnings surge
Wednesday, 19 September 2012 00:00
Written by Nicola Mawson
JSE-listed Huge Group says earnings per share for the first six months of the year will be as much as 800% higher when it reports its results.
The group recently issued a trading statement in which it said there is a “reasonable degree of certainty” that earnings per share for the six months to August will be at least 300% higher than last year’s 2.8c.
Headline earnings per share for the first half of the year are expected to be at least 800% higher than the 1.09c reported in the first half of last year. Analysts view headline earnings per share as a key indicator of company performance as it strips out unusual items.
Companies are required in terms of JSE rules to inform shareholders once they expect their results to differ by at least 20% from the previous corresponding period.
In the first six months of the last financial year, Huge’s revenue was R212 million and it made a net profit of R2.7 million after reversing its full-year loss. Its earnings and headline earnings per share were affected by non-cash items.
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