South Africa-based AYO Technology Solutions Limited, in an initial trading statement, said that it expected a significant increase in its headline earnings per share and earnings per share this year when compared to the 2017 financial year-end results
In its initial trading statement released, the company said its headline earnings per share for the financial year to August 2017 was 5.66c per share and earnings per share was 7.86c per share, as contained in its pre-listing statement and it is expected to increase significantly to the August 2018 financial year end.
AYO said that the company’s profits would be at least 147.68 cents per share lower (or 61 per cent lower) than the 242.68 cents per share estimated in the 2018 forecast.
Its earnings per share is expected to be at least 147.68 cents per share lower (or at least 61 per cent lower) than the 242.68 cents per share reported in the 2018 forecast.
The company is performing exceptionally well as compared to August 2017 but is less than its 2018 forecast, however, it must be noted:
– The SASOL contract was scheduled to commence earlier in the reporting period but was delayed and only commenced in the latter part of the year
– In preparation for the implementation of the SASOL contract, the Company incurred certain once-off costs
– Acquisitions were not concluded within the expected timelines however the Company continues to evaluate various value-creating transactions and the market will be advised when transactions are concluded
