In a trading statement released on Monday morning, Sephaku Holdings said for the year ended March 31 2016 it forecasts higher earnings.
Earnings per share (EPS) is expected to be between 29.32 and 31.76 cents per share (2015: 24.43 cents per share) – an increase of between 20% and 30% from the previous corresponding period. Headline earnings per share (Heps) is expected to be between 29.32 and 31.76 cents per share (2015: 24.43 cents per share) – an increase of between 20% and 30%.
Sephaku reported normalised Heps for the year ended 31 March 2015 of 10.48 cents per share.
It said that normalised Heps for 2015 took into account once-off items, including “a non-cash loss of R28.5 million on a contingent consideration” and a “deferred tax asset entry passed by the associate, Sephaku Cement (Pty) Ltd relating to a section 12I tax incentive, that brought about an increase in SepHold’s equity accounted earnings of R55.4 million.”
“No once-off items were taken into account for the current period and the normalised Heps for 2016 is therefore expected to be the same as the Heps for the period, of between 29.32 and 31.76 cents per share, being an increase of between 180% and 203% from the normalised HEPS reported for the year ended 31 March 2015.”
Sephaku’s annual results are due to be released on June 30 2016.