Brait forecasts higher profits

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South African private equity group Brait SE (BAT) advised on Tuesday that earnings per share and headline earnings per share (HEPS) for the year ended 31 March 2012 are anticipated to have increased by 320% to 340% to between R5.30 and R5.50 per share compared with R1.25 per share for the previous year.

HEPS normalised for total shares outstanding at 31 March 2012, instead of the weighted average number of shares for the financial year, was expected to increase by 245% to 265% to between R4.20 and R4.40 per share from R1.21 previously)

Brait`s Net Asset Value (NAV) per share as at 31 March 2012 is anticipated to increase by 60% to 62% to between R20.45 and R20.65 (2011: R12.78). This represents a 24% to 25% increase on the R16.50 NAV per share when the Rights Offer and Private Placement capital raising was concluded on 4 July 2011, the company said.

The financial results of the company for the year ended 31 March 2012 are currently being prepared and are expected to be released on the Luxembourg Stock Exchange and SENS on or about 6 June 2012. - I-Net Bridge

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