Cognition Holdings said on Friday that its headline earnings a share was expected to be between 1.04 and 1.34 cents, a substantial decrease compared with the headline earnings of 3.03 cents a share reported for the year ended June 30, 2021.
The marketing research and data company said trading in the last six months had improved and additional cost saving measures resulted in the company being able to report a headline profit for the year, while Private Property Proprietary was able to continue reinvestment into its core systems and processes.
The loss per share was expected to be between 22.24 and 22.06 cents, representing a decrease compared with the earnings of 0.90 cents reported for the year ended June 30, 2021.
The sharp decline in earnings per share was driven by the impairment of goodwill and intangible assets in the first six months, due to the uncertainty of the future benefits of these assets, the company said in a statement.
The interim financial results are expected to be released around September 1. Its share was unchanged at 79 cents on Friday.
BUSINESS REPORT