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Reunert earnings decline expected

Electronics maker Reunert expected a drop in earnings a share of between 17 percent and 22 percent for the year to September, the company said yesterday.

Headline earnings a share and normalised headline earnings a share will reflect an increase of between 7 percent and 12 percent than the same period last year.

Reunert said the decrease in earnings a share was a result of the abnormal gain of R346.4 million on the sale of the company’s stake in Nokia Siemens Networks SA in January last year.

The deal was excluded from the calculation of headline and normalised headline earnings a share in the comparable period last year, Reunert said.

Reunert stock closed 1.56 percent down at R76.78 yesterday. – Asha Speckman

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