Business Connexion expects drop in interim HEPS - CNBC Africa

Business Connexion expects drop in interim HEPS

Earnings

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Business Connexion is an ICT products, services and solutions provider. PHOTO: Getty Images

This would be a decline from its headline earnings per share (HEPS) of 19.1 cents in the first half of 2013.

However, it also expects earnings per share (EPS) of between 51 cents and 54.5 cents, an increase from 19.6 cents per share in 2013.

(READ MORE: Business Connexion plugs into FY profit)

“The difference between the HEPS and EPS calculations as well as the decrease in earnings from the comparative interim period is largely attributable to the sale of the QLink business effective 1 September 2013,” [DATA BCA:Business Connexion Group Limited] said.

The information and communication technology (ICT) products, services and solutions provider, whose results for the six-month period is expected to be published on 15 April 2014, sold its QLink business unit in September last year to Summit Garnishee Solutions for 187.5 million rand.

(READ MORE: More policing needed for fraudulent garnishee order deductions)

“If you have a look at the rationale for the deal, we believe quite strongly  and passionately about the current financial crisis that consumers are experiencing, and we believe that one of the most effective mechanisms to manage that crisis and provide solutions is to manage the service providers,” Summit Garnishee Solutions founder Clark Gardner told CNBC Africa at the time.

“If you give them tools and platforms to enable them to make affordable and responsible deductions, both in terms of sustaining the industry and protecting the consumer, I think we have the best solution out there.”

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