Imperial Logistics expects headline earnings a share to fall by up to 190 cents
CAPE TOWN - IMPERIAL Logistics’ headline earnings a share including discontinued operations were expected to fall to between 177 cents and 190c per share in the six months to December 31 compared with 190c in the same period a year before, a statement said yesterday.
This would represent a decrease of 7 to 0 percent. Earnings per share were expected to increase to between 430c and 444c from 223c at the same time last year.
Headline earnings per share (Heps) were negatively impacted by the effect of Covid-19 on trading results across operations, associated once-off costs, and investment in people, structure, processes and systems to support growth and future efficiency in line with the group’s “One Imperial” and “Gateway to Africa” strategy.
The results were supported by acquisitions and new business gains. Heps for continuing operations were expected to decline to between 172c and 188c per share from 315c in the same period a year before, representing a decline of between 49 and 54 percent.
The group said, in spite of the lower earnings, trading volumes and profitability recovered strongly in the first half of the 2021 financial year compared with the second half of its 2020 financial year.