Etion: Trading statement | MarketScreener
(Incorporated in the Republic of South Africa)
(Registration number: 1987/001222/06)
(Share code: ETO)
(ISIN code: ZAE000097028)
(“Etion” Where “the company“)
In terms of JSE Limited Listings requirements, a listed company is required to issue a trading statement as soon as it becomes reasonably certain that the financial results for the next reporting period will differ by 20% or more from the financial results for the corresponding period. former.
The Company hereby advises that there is a reasonable degree of certainty that for the year ended March 31, 2022:
- earnings per share (“PES“), including continuing and discontinued operations, will be
between 26.3 cents and 28.2 cents, an increase of between 182.8% and 203.2% over reported EPS of 9.3 cents for the year ended March 31, 2021.
- overall earnings per share (“HEPS“), including continuing and discontinued operations, will be between 11.8 cents and 13.7 cents, an increase of between 26.9% and 47.3% over the HEPS of 9.3 cents reported for the fiscal year ended March 31, 2021.
The increase in EPS and HEPS is mainly due to Etion continuing to achieve sustainable growth in profitability and the Company benefiting from a gain of R140.6 million on the disposal of Etion Secure (“LAWTrust“) and contribution to earnings from LAWTrust in the first half of fiscal 2022. The remaining entities Etion Create and Etion Connect traded well despite continued pressure from COVID-19, supply chain disruptions and component shortages The improved performance is attributable to (i) increased demand for products and services;(ii) efficient delivery of growing customer orders, including large long-term contracts in the markets of defence, mining and telecommunications; (iii) a strong focus on inventory and cash management; and (iv) the positive effects of the streamlining of operations over the past two years.
The financial information on which this trading statement is based has not been reviewed or reported by the Company’s auditor. Revised results for the period ended March 31, 2022 are expected to be released on or around June 29, 2022.
June 24, 2022
Limited edition published this content on June 24, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Jun 24, 2022 11:35:02 AM UTC.