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Amalgamated forecasts higher profits

Amalgamated Appliance Holdings (AMA) said on Tuesday it expected its headline earnings per share (HEPS) to range between 40 cents and 45 cents in the year ended June 2012‚ from 29 cents in the same period a year ago.

Basic earnings per share are expected to be in the similar range as HEPS‚ from 28.9 cents a year ago.

The full year earnings will include a R28.8m arbitration award handed down in favour of Amalgamated in respect of a claim by subsidiary‚ Tedelex Trading‚ against Battery Technologies. The claim arose following the cancellation of orders of batteries supplied to Tedelex Trading on the basis that the batteries did not meet specification.

The year-end results are expected on September 26 2012. - I-Net Bridge

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