Earnings leap for Ecsponet
Ecsponet expects its headline earnings to leap at least 2 000 percent when it reports its interims later this month.
|||Johannesburg - Ecsponet - which was previously known as John Daniel Holdings - expects its headline earnings to leap at least 2 000 percent when it reports its interims later this month.
The listed company says in a statement to shareholders that its improved performance is thanks to its “the corporate actions and strategic direction” gaining momentum.
Headline earnings per share - a key measure of profitability - for the period to June will come in at 2 000 percent higher, coming in at a minimum of 0.388c a share.
Earnings per share, however, are expected to grow at about a tenth of headline earnings per share, to gain at least 220 percent to at least 1.242c a share.
The company, which will publish results before month end, is a listed private equity company that focuses on African opportunities.
It looks for opportunities on the African continent where local businesses in the various companies can be leveraged, grown or brought into the group.
Ecsponet focuses mostly on the financial services industry, but has been known to look at online or technology businesses that have proven potential.
It uses shares and cash to buy African entities and aims to deliver a return on investment of between 10 and 13 percent to direct investors and a return on investment of 25% per year to equity investors.
“The ideal result is to build an African Financial Powerhouse,” it says on its website.
The company changed its name from John Daniel Holdings last January.
IOL