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Market not convinced by AEEI profit announcement

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Company says revenue for period to February increased 31% to R792m and taxed profit 246% to R546m

African Equity Empowerment Investments on Thursday posted a strong set of results, but the market is not convinced.

But Anthony Clark, independent analyst at Small Talk Daily Research, said “the results seem like pure fantasy”. Former Ayo CEO Kevin Hardy testified that the company’s CFO was instructed to tamper with its financials.

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