has reduced losses for the six months to end-January, it said in a trading update on Friday.
EOH said it expects to report a headline loss per share from total operations of 395c for the six months to end-January, a 60% improvement compared to a 993c loss previously. The headline loss per share from continued operations is expected to be 381c, a 61% improvement. , which is expected to be 687c, compared to 2,099c in the six months to end-January 2019. The loss per share from continuing operations is set to be 527c, from a 2.073c loss in the previous corresponding period.The company said these numbers are affected by the restatement of its financial results for the period ended January 31 2019 so as to align with the conclusions and restatements set out in the consolidated annual financial statements for the year ended July 31 2019.
EOH also said impairment assessments performed on the group’s cash-generating units having an indicator of impairment, which, coupled with the sale and discontinuation of certain non-core business activities, had an impact on the carrying value of goodwill.
The group is sitting on a R3.1bn debt pile, more than six times its market capitalisation. In 2019, it beat its own target of raising R1bn from the sale of assets with the disposal of Dental Information Systems, a healthcare technology group based in Cape Town, for R250m to AfroCentric.
This one EOH I don't trust
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