Alexander Forbes: Firm forecasts higher earnings

FINANCIAL services firm Alexander Forbes said yesterday it expected improved full-year earnings after a capital restructuring and the sale of its insurance company Guardrisk. The financial services firm expected headline earnings per share (EPS) for the year to March to be between 160 percent and 170 percent higher, from 83 cents to 88 cents per share, it said. The group completed its capital restructuring in March 2014, aimed at redeeming all remaining debt and preference shares and replacing them with ordinary shares. A single unsecured term loan was introduced, the company said. Shares in Alexander Forbes closed 0.95 percent lower at R9.35. – Reuters