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Purple Group, the owner of the EasyEquities investing platform, will post a loss in the six months to end-February, it said.
JSE listing rules require firms to tell the market when their earnings will be at least 20% lower or higher than the previous period.
Purple Group has swung from headline earnings per share of 1.63c to a loss of between 0.82c and 0.91c in the six months to February 28. The stock, loved by retail investors, has dropped almost 35% in the past six months, and closed 6.06% lower on Friday at R1.24.
It said weaker economic activity has meant trading has reached historical lows.
“While the cyclical nature of markets and the economy will impact our clients’ ability to save and invest, we remain determined to pursue our purpose, to democratise investing and empower financial dignity for all while building the world’s best investment platform.”
It said it had spent heavily on investing in IT and infrastructure to expand and serve customers in SA and the Philippines and Southeast Asia. As it lowered costs it would become more profitable and competitive, it said.
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