Close

Not a member yet? Register now and get started.

lock and key

Sign in to your account.

Account Login

Forgot your password?

HOSKEN CONSOLIDATED INVESTMENTS WARNS OF FALL IN EARNINGS PER SHARE

24 May General

BLACK empowerment investment holding company, Hosken Consolidated Investments (HCI), expects its earnings per share to have fallen between 65.2% and 75.2% when it reports its financial results for the year to March 31 2016.

The company advised shareholders on Monday it was likely to report basic earnings per share of between 1,169.8c and 833.6c, compared with its restated basic earnings per share of 3,361.6c from the year before. It expected headline earnings per share of between 1,050.0c and 955.4cs, being an increase of between 11% and 1% as compared with restated headline earnings per share of 946c as reported a year ago.

HCI said “significant decrease” in basic earnings per share is mainly as a result of the fair value adjustment of the previous year to the carrying value of the group’s investment in Tsogo Sun Holdings before being consolidated in the results of the company from September 2014.

This adjustment did not recur in the current year, it said.

HCI’s results are expected to be published on Wednesday.

Source: BDLive