The group said basic earnings per share for the six-month period was expected to be between 338.88 cents and 370.65c.
It said this would reflect an increase of between 60 percent and 75 percent compared to 211.8c reported in the previous published period.
Shares rose after the release of the update to R40 a share, from Tuesday’s closing price of R34.90 a share.
However, by the end of the day the share had gained 11.75 percent to close at R39.
Nu-World is a holding company listed on the JSE. Through its subsidiaries it manufactures imports, exports and distributes a range of electrical appliances, consumer electronics, and branded consumer durables worldwide.
Products it distributes and imports include floor care, motorsport, power tools, furniture, fans and air conditioners, heaters as well as liquor and luxury goods.
The brand names are: Ideal, NW, WIK, NWI, Magic Line, Russell Hobbs, JVC, Sunbeam and Fenici.
South Africa is the largest hub of the group, currently into its 71st year of operations.
In the upcoming interim results, the group also expected headline earnings per share (Heps) to improve during the period.
It expected Heps to be between 338.24c a share and 369.95c a share, an increase of between 60 percent and 75 percent compared with 211.4c a share reported last year.
Over the years the group has managed to increase its profits.
The growth in the group’s categories is slower in South Africa as consumers’ disposable income has fallen, placing many retailers under undue pressure.
In the results for the year to August, it reported a 20 percent increase in revenue to R2.59 billion.
Net operating income before the bad debt write-off increased by 53.1 percent to R204.5 million.
Despite operating in a tough environment in South Africa, the segmental information showed South Africa’s revenue increasing to R1.8 billion and income increasing 36.7 percent to R81.4 million.
Offshore subsidiaries increased revenue to R836.63 million while income decreased to R20.72 million due to the bad debt write-off in Australia.
The group stated in its annual results that it was rewarding to note that the group generated cash of R98.29 million from operating activities as a consequence of rigorous working capital management and an overall reduction in inventory.
The group’s interim results are expected to be published on April 25.