BIDVEST Group expects normalised headline earnings per share (Heps) from continuing operations to be 23 to 28 percent higher following a strong trading profit performance and robust cash generation during the year to June 30, the group said in a trading statement yesterday.
Normalised Heps was expected to be between 1 260 cents and 1 324 cents. Sequential quarterly performance improved progressively, the group said.
Heps from continuing operations, which excludes the now disposed Bidvest Car Rental, was expected to be more than 100 percent higher compared to the prior year’s 553.2 cents, translating into a range of between 1 154 cents and 1 213 cents.
The prior year’s performance was impacted by R1.2 billion Covid-19 expenses, R218 million negative Adcock Ingram remeasurement impact, a R241m capital impairment recognised for Comair and R1.2bn in capital impairments and business disposals.
BUSINESS REPORT