EOH year-end results

Scandal-plagued IT services group EOH Holdings has turned in a significant improvement in full-year results, with the total headline loss per share in the period ended 31 July 2020 reduced by 72% to R4.95. At the same time, the group’s debt problem – though still there – is less severe than it was a year ago, with gross debt down 20% to R2.6-billion at end-July. Debt is still a major concern with net debt (allowing for post y/end repayments) exceeding market cap and at almost 200% of equity. CEO Stephen van Coller talks to Michael Avery about the next phase of the turnaround to reduce that debt albatross around EOH’s neck.