31 October 2013
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Econet posted an almost flat performance for the interim period to August 2013 where the basic and diluted EPS took a marginal 2% drop to 4.5c. The highlights of the interim period performance included the 11% increase in revenues to $376.6m coupled with an 8% jump in EBITDA to $165.3m as group sustained a respectable EBITDA margin of 44%. Higher depreciation charges at $45m on the back of the heavy impairment of loans at the bank coupled with steeper finance charges at $18m saw the group close with before tax profits of $106m which was 5.5% lower than the prior year comparative. From these the group closed with after tax profits of $70.5m 10% down on last year...
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