Shares in Novus shot up almost 4% on Friday as the print and packaging group signalled a huge improvement in earnings for the full year to March.
The group, valued at R1.84bn on the JSE, said headline earnings per share (HEPS), which strip out the effects of one-off financial movements, are set to improve at least 1,000% compared with the headline loss per share of 7.35c in the prior year.
Novus shares, which are up nearly 18% since the start of the year, were 3.88% stronger at R5.35 on Friday.
The group’s earnings report for the period is expected on June 14.
In 2022 Novus acquired a 75% stake in Maskew Miller Learning, then called Pearson SA, for £53m. Maskew Miller is a courseware business that services all tiers of the education market.
The acquired group holds iconic brands such as Maskew Miller Longman and Heinemann, two of the best-known educational materials publishers and printers in SA. They provide learning content and teacher training for use in schools, technical vocational education & training (TVET) colleges and higher education institutions, as well as home and professional environments.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.