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PSG forecasts higher profit

PSG Group (PSG) advised on Friday that a reasonable degree of certainty exists that, for the year ended 29 February 2012, recurring headline earnings will be between 308 cents and 310 cents per share or between 27.3% to 28.2% higher.

Headline earnings will be between 325 cents and 327 cents per share or between 6.0% to 6.6% higher, but attributable earnings will be between 403 cents and 406 cents per share or between 4.3% to 5.0% lower than that for the year ended 28 February 2011.

“PSG continues to use the recurring headline earnings method to provide management and investors with a more realistic and transparent way of evaluating PSG's earnings performance. Consolidated recurring headline earnings represent the sum of PSG's effective interest in that of each strategic investment, regardless of its percentage shareholding. The result is that investments in which PSG or an underlying investment holds less than 20% and are generally not equity accountable in terms of accounting standards, are included in the calculation of our consolidated recurring headline earnings. Marked-to-market fluctuations and one-off items are excluded,” the group explained.

The results for the year ended 29 February 2012 will be published on or about 16 April 2012. - I-Net Bridge

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