JOHANNESBURG - Merchandise transport, warehousing, distribution and logistics solutions company Value Group has benefited from organic growth from new and certain existing customers, the curtailment of overhead cost escalations and the end of a black economic empowerment transaction to record significant growth in its earnings.
In a trading update for the period ended February, the group said the upswing translated to headline earnings per share ranging from 80cents to 91.7c per share, an increase of between 36 and 56percent compared to the previous year's 58.7c per share. The company said basic earnings per share would range from 80 to 90.9c per share, an increase of between 46 and 66percent, in comparison to the 54.8c per share at the same time last year.
Value Group said excluding the once-off BEE equity transaction cost incurred in the previous financial year, normalised headline earnings per share would be 13 to 29percent higher than that achieved in the previous corresponding year.
This translated to normalised headline earnings per share ranging from 80 to 91.7c per share in relation to the comparative period in which 71.1c per share was achieved. The results for the 12 months ended February 28 would be published on May 10.