Shares in JSE-listed documents storage company Metrofile rose more than 7% on Tuesday after the company said it expects earnings to rise by as much as 18% for the six months to end-December 2019.
Headline earnings per share may rise by between 12c and 13.5c from the 10.2c per share reported in the previous comparable period. Earnings per share for the half-year are expected to increase by 13% to 28%, to between 11.5c and 13.1c, from 10.2c per share in the previous period. in midday trade on Tuesday at R2.85, giving it a market value of R1.29bn. Its stock has risen 112% over the past six months.
In the second half of 2019, Metrofile said US-based Housatonic Consortium had made an offer to acquire 100% of the group. Housatonic Partners is a private equity investment firm with more than $1bn in capital under management, investing globally from its offices in San Francisco and Boston. It targets growing, profitable companies in the recurring business services, technology and healthcare sectors.
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