Im­pe­rial earn­ings per share drop

The Star Early Edition - - COMPANIES - Roy Cokayne

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.

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