Johannesburg - Listed logistics and transport company Value Group reported yesterday that its basic and headline earnings per share for the six months to August would be between 25 percent and 40 percent higher than in the previous corresponding period despite trading conditions in the logistics environment remaining extremely challenging.
This translates to basic earnings a share of between 12.6 and 14.1 cents compared to 10.1 cents in the prior period and headline earnings a share of between 13.8 and 15.4 cents compared to 11cents.
The group said poor growth rates in the logistics environment had driven down volumes, which had translated to non-profitable rates being offered by certain competitors.
It said a restructuring exercise within the logistics and freightpak breakbulk operations was undertaken to reduce overheads and cut direct operating costs while rates had been carefully evaluated and adjusted where required.
Value Group expects to publish its interim financial results on October 19. The company’s shares fell 1.69 percent on the JSE yesterday to close at R2.90.
BUSINESS REPORT