Imperial earnings per share drop

IMPERIAL Holdings, the listed transport and mobility group, expects its headline earnings a share for the six months to December to be between 13 percent and 20 percent lower than in the previous corresponding period.

This equates to headline earnings a share of between 640 cents and 700c compared with the 801c in the prior period.

Imperial said its guidance at its general meeting in November had not changed and it was still expecting single digit revenue growth and a moderate decline in operating profit.

The group said earnings a share, headline earnings a share and core earnings a share would be negatively impacted by foreign exchange losses compared to gains in the prior period on various monetary items, higher costs of funding and higher debt levels resulting from delays in the receipt of proceeds from assets and businesses held for sale and higher amortisation of intangible assets arising from acquisitions.

Imperial expects to release its interim financial results on February 21.

Imperial Holdings shares were 1.34 percent down to close at R174.14 on the JSE yesterday.