Metair expects decline in earnings
Pretoria - Metair expects its headline earnings a share for the year to December to be between 9.68 percent and 7.26 percent lower than the 248 cents in the previous year.
This equates to headline earnings a share for the reporting period of between 224c and 230c.
The company said on Thursday that trading during the year started with a model change in the automotive components business and it experienced model launch challenges during the first half of the year.
Metair said its energy business had a strong finish to the year as the Turkish and Romanian battery businesses experienced record production output for the year on the back of excellent last-quarter demand.
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The company said its automotive components business was expected to achieve low double-digit turnover growth and profit before interest and tax margins of between 5percent and 7percent for the full year.
Metair expects to release its annual financial results on March 23.