Lower earn­ings for share­hold­ers

The Star Early Edition - - COMPANIES -

LIB­ERTY Hold­ings told its share­hold­ers that they must ex­pect lower head­line earn­ings and nor­malised head­line earn­ings for the six months to end June. “Share­hold­ers are ad­vised that ba­sic earn­ings per or­di­nary share and head­line earn­ings per or­di­nary share are ex­pected to be be­tween 8 per­cent to 18 per­cent lower than the six months to end June 2016,” the group said. This would re­sult in ba­sic head­line earn­ings per or­di­nary share and head­line earn­ings per or­di­nary share to be be­tween 546.9 cents and 613.5c. But the group as­sured its share­hold­ers that its cap­i­tal po­si­tion re­mained strong com­pared to the end of De­cem­ber. The group’s sub­sidiary, Stan­lib South Africa, has also ex­pe­ri­enced mar­gin pres­sure due to the weaker in­vest­ment mar­kets. “Stan­lib’s earn­ings have been fur­ther im­pacted by cer­tain op­er­a­tional write-offs. The share­hold­ers’ in­vest­ment port­fo­lio de­liv­ered re­turns in line with bench­mark, but are lower than the com­par­a­tive pe­riod due to mar­ket move­ments. Lib­erty Hold­ings in­terim re­sults will be re­leased on Au­gust 4. – Sandile Mchunu

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