Ellies Interim earnings likely to double

Ellies upgraded its forecast for interim earnings yesterday, saying it expected earnings a share and headline earnings a share to rise by between 90 percent and 110 percent for the half year to October. The electrical equipment dealer published a revised trading update following a statement on October 9 in which it had forecast earnings to be at least 80 percent higher for the six months under review. In the first half to October last year, Ellies posted earnings a share of 21.01c and headline earnings a share of 20.98c. Ellies shares jumped as much as 4.2 percent to R7 after the update, and closed 1.8 percent up at R6.84. Ellies is a leading wholesaler, manufacturer and distributor of television aerials, domestic electrical and industrial audio products. Interim results will be published on or about January 22. – Asha Speckman


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