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Group Five forecasts a profit increase

Johannesburg - Construction group Group Five (GRF) said on Monday that fully diluted headline earnings per share for the six months ended December 2012 are expected to be between 10%-20% higher - or between 143 cents and 156 cents per share.

Headline earnings per share are also expected to be between 10%-20% higher - between 143 cents and 156 cents per share - while fully diluted earnings per share should be between 50% - 60% higher - or 134 to 142 cents per share.

Earnings per share are seen between 50% - 60% higher - or 134 cents to 142 cents per share.

The group continues to account for the Construction Materials segment as a discontinued operation and as a non-current asset held for sale.

Adjusting the H1 2012 reported results to reflect operating losses from this segment in headline earnings‚ comparable with the treatment adopted for the full year 2012 and this current set of results‚ reduces the comparable H1 2012 FDHEPS and HEPS from 130 cents per share‚ to 93 cents per share.

Group Five said the group’s businesses performed in line with management expectations and in accordance with the guidance provided in November 2012.

The group’s results will be released on February 13 2013. - I-Net Bridge

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