THE COM­PLEX­ITY OF RE­PORT­ING

Finweek English Edition - - SIMON SAYS -

The Stan­dard Bank* trad­ing up­date high­lights the com­plex­ity of re­port­ing in gen­eral, but per­haps even more so for banks. They have not only EPS and HEPS, but they also have nor­mal and di­luted ver­sion. Then to add an­other whole mix, there is also the In­ter­na­tional Fi­nan­cial Re­port­ing Stan­dards (IFRS) and nor­malised num­bers, leav­ing us with eight dif­fer­ent sets of num­bers (four each for EPS and HEPS). So which do we use? Well, I take IFRS (as that’s the of­fi­cial re­port­ing stan­dard) di­luted (as that in­cludes all share to be is­sued) HEPS value and this num­ber will be about f lat for the year end­ing 2014.

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