Ayo swings into loss but proceeds with final dividend
Sales dropped 41% after it lost a lucrative contract with top client Sasol
30 November 2021 - 09:04
UPDATED 30 November 2021 - 18:43
Ayo Technology Solutions dished out more than R300m in annual dividends, much of which flowed to its indirect shareholder Iqbal Survé, even as the IT outfit missed out on the boom stemming from socially distant work, shopping and learning during the pandemic.
The thinly traded R1.4bn company, whose top shareholder is African Equity Empowerment Investments, which is controlled by Survé’s Sekunjalo Group, will pay out 95c in a total dividend in the year to end-August, slightly down from 100c doled out a year earlier. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.