Adcorp expects 564 to 582% EPS increase - CNBC Africa

Adcorp expects 564 to 582% EPS increase

Earnings

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Adcorp is a diversified workforce management and business process outsourcing company. PHOTO: Getty Images

The diversified workforce management and business process outsourcing company also stated that its headline earnings per share (HEPS) are expected to increase by 560 to 578 per cent, compared to the corresponding period.

“EPS and HEPS are therefore expected to be between 148 cents and 152 cents per share and between 148 cents and 152 cents per share, respectively, compared to EPS of 22.3 cents and HEPS 22.4 cents in the corresponding period,” [DATA ADR:Adcorp] said.

“The significant increase in earnings and headline earnings is due to the first full period inclusion of the contribution from Labour Solutions Australia Proprietary Limited (LSA) as well as the non-repetition of the IFRS accounting.”

Adcorp added that on a normalised trading position, where non-cash flow IFRS adjustments are eliminated, normalised earnings per share is expected to be between eight and 10 per cent higher than those for the six months ended 31 August 2013.

(WATCH VIDEO: Adcorp sees growth opportunity in emerging markets)

“As a result, normalised earnings per share are expected to be between 191 cents and 194 cents, compared to 176.5 cents in the corresponding period,” it said.

The South African company’s financial results are expected to be published on or around 22 October 2014.

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