Sanyati earnings seen 35-45% lower

Posted On Tuesday, 11 May 2010 02:00 Published by eProp Commercial News
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Sanyati says that shareholders have been advised of the R50.2m change in an estimate which has been recognised in the interim results for the 6 months ended August 2009.

Construction IndustryCivil engineering and construction holding company Sanyati Holdings said on Tuesday that shareholders were advised in October 2009 of the R50.2 million change in an accounting estimate which was recognised in the interim results for the six months ended August 2009.

Earnings per share and HEPS for the year ended February 2010 both factor in the impact of this amount as well as the loss on discontinued operations resulting from the sale of the roads surfacing business announced in February 2010.

As a result, EPS for the year ended February 2010 is expected to be similar to the reported EPS for the year ended February 2009, and for the same period, the 2010 HEPS, both basic and fully diluted, is expected to be between 35% and 45% lower than the reported 2009 HEPS, the company said.

Normalised fully diluted headline earnings per share from continuing operations for the period is expected to be between 10% and 20% higher, and basic earnings per share from continuing operations between 20% and 30% higher than the prior comparative period.

Sanyati's financial results will be released on 18 May.

 

Last modified on Thursday, 03 October 2013 16:08

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