Johannesburg - South African earthmover manufacturer Bell Equipment expects headline earnings to be at least 160 percent higher for the year despite a weaker construction industry and thanks to its cost-cuts, foreign exchange gains and expansion in the North American market, it said in a statement on Friday.
Bell said it expected earnings per share to be at least 67 cents higher and headline earnings per share to be at least 78 cents higher for the year to end-December.
The company reported earnings per share of 67 cents and headline earnings per share of 49 cents a year ago.
“Commodity and construction industry related demand for equipment has contracted further in 2015 and the expected increase in earnings is mainly due to right-sizing and cost reduction initiatives, foreign currency gains during the year and increased penetration of the North American market,” Bell said.
ANA