JSE-listed Etion expects to report lower headline earnings a share and earnings a share for the financial year ended March 31.
The group anticipates a drop in earnings of between 95.86% and 98.62%, compared with the 7.26c posted the year before.
“The decrease in earnings can be attributed to the subdued economic environment, which contributed to significant slippage in customer project spend to the 2020 financial year, as well as various one-off costs related to the execution of our strategy,” Etion explained in a trading update to shareholders published on Friday.
The group’s results will be released at the end of June.