AYO's deal with Sasol was delayed and only commenced in the latter part of the year. File Photo: IOL

CAPE TOWN – JSE-listed AYO Technology Solutions said on Monday that it expected a significant increase in it headline earnings per share and earnings per share compared with the last financial year. 

In its initial trading statement released on Monday the company said its headline earnings per share for the year to August 2017 were 5.66c per share and and earnings per share were 7.86c per share, as contained in its pre-listing statement.

AYO, however, said the company’s profits would be at least 147.68 cents per share lower or 61 percent lower than the 242.68 cents per share reported in the 2018 forecast. 

Its earnings per share are expected to be at least 147.68 cents per share lower or at least 61 percent lower than the 242.68 cents per share reported in the 2018 forecast.

The company said it should be noted that 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.

“On preparation for the implementation of the Sasol contract the company incurred certain once-off costs,” said AYO. “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 transaction are concluded.”

– BUSINESS REPORT ONLINE