Electronics group Ellies, which makes and trades products ranging from satellite dishes to shelving, says it has returned to profit in its six months to end-October, due to improvements in the way it handles its logistics, as well as reduced loss at its embattled manufacturing division.said in a trading update on Thursday it expects headline earnings per share of 2.37c to end-October, from a loss of 2.91c previously, implying a profit swing of about R33m.
The group had said in its annual report for 2020 the restructuring of its logistics business had allowed for the centralisation of operations, as well as just-in-time delivery to customers. This business had only contributed about 6% of revenue in the prior comparative period, but more than half its pre-tax loss of R28m.
Shoutout to the the sub-editor.