JOHANNESBURG - JSE-LISTED enX Group issued a new trading update which differs from the previous two released last week and a month ago.
The group had expected to report earnings growth in the first two updates, but that changed to losses after the new update included fair value adjustments required to account for the restructure and unbundling of the eXtract investments, completed on October 13.
In the results for the year to August, the group now expected to report a loss a share and headline loss a share of between 298cents a share and 308c during the period. In the previous updates, the group had expected to report earnings a share and headline earnings a share of between 140.1c and 150.c, which would have been an increase of between 20percent and 30percent compared with a year before.
enX is an industrial group that provides quality branded, and in some segments locally manufactured, industrial equipment, related components, service and technical expertise.
- BUSINESS REPORT